Question

Cullumber Limited had 42,600 common shares outstanding on January 1, 2020. On March 1, 2020, Cullumber...

Cullumber Limited had 42,600 common shares outstanding on January 1, 2020. On March 1, 2020, Cullumber issued 20,700 shares in exchange for equipment. On July 1, Cullumber repurchased and cancelled 11,700 shares. On October 1, 2020, Cullumber declared a 5–for–1 stock split.

Calculate the weighted average number of shares outstanding for Cullumber for the year ended December 31, 2020.

Weighted average number of shares outstanding

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Answer #1

ANSWER=

Weighted Average No. of Share Outstanding:- 118500 Shares.

Computation is in Following Table:-

Date Particular No. of Shares Total Balance Time Period Shares Outstanding
1-1-2020 Opening Balance 42600 42600 2 7100=(42600 x 2/12)
1-3-2020 Shares issued 20700

63300

=(42600+20700)

 4 21100=(63300 x 4/12)
1-7-2020 Stock Repurchased(Buy-back) 11700

51600

=(63300-11700)

 3 12900=(51600 x 3/12)
1-10-2020 Share-Split (5:1)-i.e. 5 Shares for every 1 held 258000=(51600 x 5)

309600

=(51600+258000)

 3 77400=(309600 x 3/12)
Weighted Average No. of Shares= 118500 Shares
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