At January 1, 2022, Morgan Inc. had 166,667 common shares outstanding. No other class of shares...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
At January 1, 2022, Morgan Inc. had 166,667 common shares outstanding. No other class of shares have been issued. On June 30, the corporation issued 55,000 new shares to raise additional capital. On November 30, the corporation purchased on the open market 22,167 of its own shares at $ 99.00 each and retired them. On January 15, 2023 Morgan declared and issued a 1.67 for 1 stock split. Morgan's audited financial statements were released to its shareholders on March 15, 2023. Instructions Calculate the weighted average number of common shares outstanding to be used in calculating earnings per share for 2022. At January 1, 2022, Morgan Inc. had 166,667 common shares outstanding. No other class of shares have been issued. On June 30, the corporation issued 55,000 new shares to raise additional capital. On November 30, the corporation purchased on the open market 22,167 of its own shares at $ 99.00 each and retired them. On January 15, 2023 Morgan declared and issued a 1.67 for 1 stock split. Morgan's audited financial statements were released to its shareholders on March 15, 2023. Instructions Calculate the weighted average number of common shares outstanding to be used in calculating earnings per share for 2022.
Expert Answer:
Answer rating: 100% (QA)
To calculate the weighted average number of common shares outstanding for 2022 we need to consider t... View the full answer
Related Book For
Modern Advanced Accounting In Canada
ISBN: 9781259066481
7th Edition
Authors: Hilton Murray, Herauf Darrell
Posted Date:
Students also viewed these finance questions
-
The following information is available for Noonbeam Inc., a company whose shares are traded on the Toronto Stock Exchange: Other information: 1. For all of the fiscal year 2011, $100,000 of 6%...
-
The following information is available for Dylan Inc., a company whose shares are traded on the Toronto Stock Exchange: Net income...
-
The following information is available for Dylan Inc., a company whose shares are traded on the Toronto Stock Exchange: Other information: 1. For all of the fiscal year 2017, $100,000 of 6%...
-
Briefly explain the DHCP lease process. What packets are sent and when are they sent? (5 marks) Question 2 any three advantages of IPv6 over IPv4? How many classes are there in IPv4 and what is the...
-
The following is Saratoga Springs Companys stockholders equity section of the balance sheet on December 31, 2011: Preferred stock (7%, $50 par, noncumulative, 22,000 shares authorized, 9,000 shares...
-
Which is the projection of v along v: (a) v or (b) e v ?
-
Juliette Shulof Furs (JSF) was a New York corporation that had been in the fur-dealing business for 15 years. George Shulof, an officer of JSF, attended two auctions conducted by Finnish Fur Sales...
-
CHB, Inc., is a bank holding company that is evaluating the potential for expanding into a 13-county region in the southwestern part of the state. State law permits establishing branches in any...
-
Why would you perform a silent installation? What is the purpose of a password complexity policy? Oracle offers a free download of all editions of the Oracle Database. How does the company derive...
-
Read the case study "Southwest Airlines," found in Part 2 of your textbook. Review the "Guide to Case Analysis" found on pp. CA1 - CA11 of your textbook. (This guide follows the last case in the...
-
Discuss the different sources of energy available in nature.
-
a). Write a C program with comments and indentation for the flow chart in figure 1. Use 'for' or 'while' loop control structure for writing the program. [12 marks] 0-2-1-1 start Input n yes y=y+(2+i)...
-
Conduct an interview with someone currently employed full time in a mass media occupation. Write a 2 page (500 words, 12 point font, double spaced) paper in that is a summary of the interview. Paper...
-
Identity with Common Core / or Ohio/ or California Learning Standards for grades K-5 Example: RF.K.3 Phonics and Word Recognition: Know and apply grade-level phonics and word analysis skills in...
-
In an Associated Press interview, Satrapi said, "The only thing I hope is that people will read my book and see that this abstract thing, this Axis of Evil, is made up of individuals with lives and...
-
A person pulls on a 9.8 kg crate against a 22 Newton frictional force, using a rope attached to the center of the crate. If the The crate began with a speed of 2 m/s and speeded up to 2.5 m/s while...
-
Question 1) What is the output of the following code? for 1-1:4 a-5;a=a+5; end disp(a) Question 2) Consider the following 5 lines of Matlab code entered in the MATLAB command window: X - [7 347];...
-
[a] Two foam blocks, each with a charge of 19 micro coulombs (1 C = 10-6 C), are both held in place 19 cm apart in the east-west direction. A foam ball with a charge 49 C is placed 55 cm north of the...
-
On January 1, Year 1, Spike Ltd. purchased land from outsiders for $100,000. On December 31, Year 1, Pike Co. acquired all of the common shares of Spike. The fair value of Spikes land on this date...
-
Financial statements of Par Corp. and its subsidiary Star Inc. on December 31, Year 12, are shown below: Other Information ¢ On January 1, Year 5, the balance sheet of Star showed the following...
-
SPEC Co. is a Canadian investment company. It acquires real estate properties in foreign countries for speculative purposes. On January 1, Year 5, SPEC incorporated a wholly owned subsidiary, CHIN...
-
As a security analyst covering the French market, youve identified the following factors and factor sensitivities for Elf Acquitaine (Elf): Elfs functional currency is the euro. Factors and factor...
-
Using the data shown in Figure 2.11 which anatomical site of the corn on the foot was the least frequently reported patients in the corn plaster group? The least frequently reported anatomical site...
-
The regional directors of a major investment bank are discussing investment strategies for their respective countries. a. As director of North American investments, describe to your foreign...
Study smarter with the SolutionInn App