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On January 1, 2018, Bramble Corp. had 480,000 shares of common stock outstanding. During 2018, it...

On January 1, 2018, Bramble Corp. had 480,000 shares of common stock outstanding. During 2018, it had the following transactions that affected the Common Stock account. February 1 Issued 119,000 shares March 1 Issued a 10% stock dividend May 1 Acquired 97,000 shares of treasury stock June 1 Issued a 3-for-1 stock split October 1 Reissued 61,000 shares of treasury stock Collapse question part

(a) Determine the weighted-average number of shares outstanding as of December 31, 2018. The weighted-average number of shares outstanding

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Answer #1
Event Dates Outstanding Share Outstanding Stock dividends Stock Split No of Months 12 months Weighted Avg.
Beginning balance Jan1-Feb1                480,000 1:1 3.0 1 12          132,000
Issued shares Feb 1-Mar 1                599,000 1:1 3.0 1 12          164,725
Stock dividend Mar 1- May 1                658,900 3.0 2 12          329,450
Reacquired shares May 1 -June 1                561,900 3.0 1 12          140,475
Stock Split June 1- Oct 1              1,685,700 4 12          561,900
Reissue shares Oct 1 - Dec 31              1,746,700 3 12          436,675
     1,765,225
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