Oriole Company had 803000 shares of common stock outstanding on January 1, issued 129000 shares on May 1, purchased 66000 shares of treasury stock on September 1, and issued 60000 shares on November 1. The weighted average shares outstanding for the year is?
855000.
899000.
921000.
877000
Answer | ||||
Ans : The weighted average shares outstanding for the year is 8,77,000 | ||||
Particulars | Shares | Weight |
weighted average Shares (Shares * Weight) |
|
a. Common stock outstanding,January 1 | 8,03,000 | 12/12 | 8,03,000 | |
Add : | b. Common stock issued on May 1 | 1,29,000 | 8/12 | 86,000 |
Less : | c. Treasury stock Purchase on September 1 | 66,000 | 4/12 | 22,000 |
Add : | d. Stock issued on November 1 | 60,000 | 2/12 | 10,000 |
e. Weighted average shares outstanding for the year = 8,77,000 (a + b - c + d) | ||||
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