Question: On January 1 , 2 0 1 9 , Gridley Corporation had 1 2 5 , 0 0 0 shares of its $ 2 par

On January 1,2019, Gridley Corporation had 125,000 shares of its $2 par value common stock outstanding. On March 1, Gridley sold an additional 250,000 shares on the open market at $20 per share. Gridley issued a 20% stock dividend on May 1. On August 1, Gridley purchased 140,000 shares and immediately retired the stock. On November 1,200,000 shares were sold for $25 per share. What is the weighted-average number of shares outstanding for 2019?
Answer Calculations:
a.510,000
b.375,000
c.358,333
d.258,333
Answer 3:
On January 1,2019, Gridley Corporation had 125,000 shares of its $2

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

Bramble Corp. was organized on January 1, 2025. It is authorized to issue 20,000 shares of 5%, $50 par value preferred stock and 452,000 shares of no-par common stock with a stated value of $3 per...

Q:

On January 1, 2021 DDD Company was authorized to issue 100,000 shares of $10 par value Common Stock . On January 15th, DDD issued 20,000 shares of Common Stock for $26. What would be the entry to...

Q:

Forward Stock Split On March 1 of the current year, Sentry Corporation has 480,000 shares of $10 par value common stock that are issued and outstanding. The general ledger shows the following account...

Q:

Resolve Corporation began operations on January 1, 2013. The company was authorized to issue 60,000 shares of P10 par value common stock and 120,000 shares of 10%, P100 par value convertible...

Q:

1.Stock that has been issued but may or may not be held by stockholders is ________. 1. capital stock 2. treasury stock 3. authorized stock 4. issued stock 2. Questions #2 through #4 are based upon...

Q:

On March 1 of the current year, Center Corporation has 500,000 shares of \(\$ 10\) par value common stock that are issued and outstanding. The general ledger shows the following account balances...

Q:

Forward Stock Split On March 1 of the current year, Center Corporation has 500,000 shares of $10 par value common stock that are issued and outstanding. The general ledger shows the following account...

Q:

Forward Stock Split On March 1 of the current year, Center Corporation has 500,000 shares of $10 par value common stock that a issued and outstanding. The general ledger shows the following account...

Q:

Outstanding stock represents the: Number of shares that are currently held by stockholders. Number of shares that have been sold. Number of shares that have been repurchased by the corporation....

Q:

Question 2 Not complete Marked out of 3.00 Flag question Forward Stock Split On March 1 of the current year, Sentry Corporation has 460,000 shares of $22 par value common stock that are issued and...

Q:

If cash is collected in advance of performing services, when is the associated revenue recognized?

Q:

Bentleys Retirement Review Case Bentley is a single professional who lives alone and enjoys a comfortable lifestyle, but wants to make sure he is on track for retirement. He has two children in their...

Q:

Amar also holds an inventory of parts, which he values on the periodic weighted average basis. During the year 2016 his purchases of parts was : At 31st September, 2016 he had 300 units in inventory....

Q:

Discuss the policy statement concept and identify three focus areas / procedures where a clearpolicy statement / operating procedure

Q:

2. Based on your research and practical experience, what are some of the most effective ways to ensure successful school-to-work transition?

Q:

3. Rachel plans on hiring recruiters to assist her in staffing these 50 positions. Knowing the company will require the recruiters to adhere to the concept of employer branding, describe what steps...

Q:

7.1 Define selection and discuss its strategic importance.