1. Altoona Company began the year with 400,000 shares of $4 par common stock. On April...
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1. Altoona Company began the year with 400,000 shares of $4 par common stock. On April 1, they issued 160,000 shares. On July 1, they issued 50,000 shares. On September 1, Altoona experienced a 3 for 1 stock split, and on October 1, they repurchased 25,000 shares and placed them in the treasury. Prepare a schedule showing the weighted average shares for the year to be used in earnings per share calculations. 1. Altoona Company began the year with 400,000 shares of $4 par common stock. On April 1, they issued 160,000 shares. On July 1, they issued 50,000 shares. On September 1, Altoona experienced a 3 for 1 stock split, and on October 1, they repurchased 25,000 shares and placed them in the treasury. Prepare a schedule showing the weighted average shares for the year to be used in earnings per share calculations.
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Related Book For
Intermediate Accounting
ISBN: 978-0470161012
9th Canadian Edition, Volume 2
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield.
Posted Date:
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