Question: can someone help assist with finding the weighted average common stock? Weighted Average Common Stock Shares Description of Transaction Outstanding Beginning Balance Shares Dates Outstanding


can someone help assist with finding the weighted average common stock?
Weighted Average Common Stock Shares Description of Transaction Outstanding Beginning Balance Shares Dates Outstanding Outstanding Fraction of Year Date Weighted Shares 1-Jan Record the following entries in general journal form for December, 2020: December 1: Recorded sales on account of $100,000, 2/10, net 30. Cost of inventory was 63,500. Company uses the net method for accounting for sales. December 2: Purchased Land for a future building site for $700,000, paying $200,000 down and signed a 5% 90-day note for the balance. December 3: Bought back 1000 shares of stock for $17 per share. December 4: Purchased $40,000 worth of equipment, 5 year life, $5,000 salvage value, for cash. Equipment will be depreciated using the straight-line method of depreciation. December 5: Paid invoice of $31.500 to supplier. The invoice related to inventory purchase which had been previously recorded December 6: Issued 5000 shares of restricted stock to its CFO. The stock has a fair value of $120,000. The service period related to this restricted stock is 3 years. Vesting occurs if the CFO stays with the company for 3 years. The par value of the stock is $1. December 8: Purchased inventory of $44,000 on account with terms 2/10 net 60. Cascade uses the net method for its purchases. December 9: Received payment related to sale on December 1. December 15: Recorded cash sales of $124,000, cost of merchandise inventory was $74,900 December 16: Issued 11,000 shares of common stock at $22.00 per share. December 17: Paid for 12/8 inventory purchase. December 18: Paid off short-term note from 12/1 trial balance plus interest of $3,582 December 19: Purchased $210,000 inventory on account with terms 3/15, net 30. Cascade uses the net method for its purchases. December 20: Recorded sales on account of $413,000, cost of merchandise inventory was $175,000 December 21: Paid $3,500 of utilities previously accrued. December 24: Sold 500 shares of Treasury Stock for $17.50 per share. December 26: Wrote off 4,500 in bad debt. Record the following adjusting entries in general journal form as of December 31, 2020: 1. Supplies on hand at the end of the year: $700 2. Equipment shown on the 12/1 TB was purchased on 1/1/17, has a 8 year life, no salvage value and company uses double-declining balance method for its depreciation. 3. Included in the truck balance is a fully depreciated truck for $6,500 and a new truck valued at $50,000 which was purchased on 1/1/17. The new truck has a 9-year life, no salvage value and the company uses the sum-of-the-years digits for its depreciation method on this asset. 4. Don't forget to depreciate the new equipment! 5. The patent was purchased on 1/1/2013 for $100,000 and its useful life is 20 years. 6. $40,600 was paid on October 1, 2020 for six months rent. 7. On February 1, 2020, paid $38,500 for a 12-month insurance policy. 8. Declared dividends of $30,000 on December 31 9. The fair market value of the securities (classified as trading) is $17,000 10.3% of Accounts Receivable is estimated to be uncollectible. Company uses the allowance method for estimating its uncollectible accounts. 11. Accrued salaries expense of $6,000 and recorded Payroll tax expense on account of $2300 12. Had issued $300,000 of 6%, 10-year bond, dated 1/1/18 for $323,383 when the market rate was 5%. Interest is paid on June 30 and January 1 using the effective interest rate method. The June payment is included in the Dec. 1 TB. (Additional credit awarded if amortization table is included) 13. One month has passed since the issuance of restricted stock. 14. Interest on 30 days of note payable, dated 12/1/20 should be accrued. (Assume 360 days in a year for calculation) 15. Accrued interest of 7% on long-term note payable of $175,000 16. Income tax rate is 21% Additional Information: During 2020, the following additional transactions occurred: (Hint: these are already included in 12/1/20 TB, but may be needed for the Statement of Cash Flows) 1. Issued 5,000 shares of common stock, $1 par, for $40,000 on June 1, 2020, 2. Some equipment was sold (original cost $10,000, book value $6,000) for $3,000 (do not consider in your #2 AJE above) 3. All amortization and depreciation is recorded once a year on December 31. IM HOP $ - % Clipboard Font Alignment Conditional Formatas Cell Formatting Table Styles Styles Number D26 f 71640 E G CR DR 707,685 788,501 7,900 18,000 110,000 40,600 38,500 3,600 150,000 82,719 56,500 32,542 35,000 65,000 A B 1 Cascade Trifort, Inc. 2 Trial Balance 3 December 1, 2020 4 Acct Description 5 100 Cash 6 101 Accounts Receivable 7 102 Allowance for Doubtful Accounts 8 103 Trading Securities 9 104 Inventory 10 105 Prepaid Rent 11 106 Prepaid Insurance 12 107 Supplies 13 125 Equipment 14 126 Accumulated Depreciation Equipment 15 127 Truck 16 128 Accumulated Depreciation Truck 17 130 Land 18 175 Patents 19 201 Accounts Payable 20 202 Salaries Payable 21 203 Utilities Payable 22 204 Payroll Taxes Payable 23 205 Interest Payable 24 206 Dividends Payable 25 207 Income Tax Payable 26 208 Note Payable short term 27 221 Note Payable-long term 28 225 Bond Payable 29 226 Premium on Bond Payable 30 301 Common Stock, $1 par, 35,000 shares 31 302 APIC Common Stock 32 304 Unearned Compensation 33 305 Treasury Stock 34 306 APIC Treasury Stock 35 310 Retained Earnings 36 401 Sales TB-Unadjusted at 12.1.20 December JES Ready Accessibility: Investigate 368,300 78,000 17,000 28,417 19,585 71,640 175,000 300,000 18,572 45,000 158,000 + 242.000 653,000 Adjusting JES worksheet Font Alignment D26 Number Formatas Cell Formatting Table Styles Styles Format 71640 Cells A 225 226 D E F 28 29 30 31 32 301 300,000 18,572 45,000 158,000 33 302 304 305 306 310 401 242,000 653,000 500 175,000 34 35 36 37 38 39 40 41 42 43 44 600 601 42,000 602 B Bond Payable Premium on Bond Payable Common Stock, $1 par, 35,000 shares APIC Common Stock Uneamed Compensation Treasury Stock APIC Treasury Stock Retained Earnings Sales Cost of Goods Sold Compensation Expense Salaries Expense Rent Expense Bad Dept Expense Payroll Tax Expense Advertisting Expense Insurance Expense Supplies Expense Depreciation Expense Amortization Expense Utilities Expense Miscellaneous Expenses Interest Expense Income Tax Expense Realized Gains (Losses) Unrealized Gains (Losses) 604 605 606 607 608 609 23,000 15,000 7,000 45 46 47 048 17,000 3,300 7,990 610 611 612 614 615 617 620 Totals 6,000 2.303,675 2,303,675 49 50 51 0 52 53 54 055 56 57 58 0 59 60 61 62
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