Weighted Average Number of Shares
Compute the weighted average number of shares outstanding for Troy Company, which has a simple capital structure, assuming that the following transactions in common stock occurred during the calendar year.
|
|
|
Number of Shares |
|
Date |
Transactions in Common Stock |
$10 Par Value |
|
Jan 1 |
Shares outstanding |
44,000 |
|
Feb 1 |
Issued for cash |
56,000 |
|
May 1 |
Acquired treasury stock |
(25,000) |
|
Aug 1 |
25% stock dividend |
25% of shares outstanding |
|
Sept 1 |
Resold part of treasury stock shares |
10,000 |
|
Nov 1 |
Issued 3 for 1 stock split |
|