Exercise 16-16 On January 1, 2012, Chang Corp. had 564,000 shares of common stock outstanding. During 2012, it had the following transactions that affected the Common Stock account.
February 1 Issued 141,000 shares
March 1 Issued a 20% stock dividend
May 1 Acquired 115,000 shares of treasury stock
June 1 Issued a 3-for-1 stock split
October 1 Reissued 79,900 shares of treasury stock
(A) Determine the weighted-average number of shares outstanding as of December 31, 2012.
The weighted-average number of shares outstanding
Solution
a) Dates Shares Fraction Weighted Event Outstanding Outstanding Restatement of Year Shares Beginning balance Jan. 1
.
Exercise 16-16 On January 1- 2012- Chang Corp- had 564-000 shares of c.docx
1. Exercise 16-16 On January 1, 2012, Chang Corp. had 564,000 shares of common stock
outstanding. During 2012, it had the following transactions that affected the Common Stock
account.
February 1 Issued 141,000 shares
March 1 Issued a 20% stock dividend
May 1 Acquired 115,000 shares of treasury stock
June 1 Issued a 3-for-1 stock split
October 1 Reissued 79,900 shares of treasury stock
(A) Determine the weighted-average number of shares outstanding as of December 31, 2012.
The weighted-average number of shares outstanding
Solution
a) Dates Shares Fraction Weighted Event Outstanding Outstanding Restatement of Year Shares
Beginning balance Jan. 1
