numbyap
Apr 5, 2013, 06:54 PM
On January 1, 2010, the company had 50,000 share of common stock outstanding. During 2010, Zigland had the following transactions that affected its common stock account:
March 1: Issued 70,000 new shares at a price of $15 per share to raise additional capital.
April 1: Issued a 40% stock dividend when the share price was $16 per share.
June 1: Acquired 35,000 shares for the treasury at a cost of $18 per share.
August 1: Issued 80,000 new shares at a price of $14 per share.
November 1: Declared and issued a 3 for 1 stock split when the stock price was $21 per share.
December 1: Reissued 20,000 share of treasury stock at a price of $22 per share.
Compute the weighted average number of shares Zigland should use in computing earnings per share for 2010. Show your calculations.
March 1: Issued 70,000 new shares at a price of $15 per share to raise additional capital.
April 1: Issued a 40% stock dividend when the share price was $16 per share.
June 1: Acquired 35,000 shares for the treasury at a cost of $18 per share.
August 1: Issued 80,000 new shares at a price of $14 per share.
November 1: Declared and issued a 3 for 1 stock split when the stock price was $21 per share.
December 1: Reissued 20,000 share of treasury stock at a price of $22 per share.
Compute the weighted average number of shares Zigland should use in computing earnings per share for 2010. Show your calculations.