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At the beginning of 2014, Hardin Company had 220,000 shares of $10 par common stock outstanding....

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Accounting

At the beginning of 2014, Hardin Company had 220,000 shares of$10 par common stock outstanding. During the year, it engaged inthe following transactions related to its common stock:

March1Issued 43,000 shares of stock at $20 per share.
June1Issued a 10% stock dividend.
July1Issued 16,000 shares of stock at $25 per share.
Aug.31Issued a 2-for-1 stock split on outstanding shares, reducingthe par value to $5 per share.
Oct.31Reacquired 88,000 shares as treasury stock at a cost of $28 pershare.
Nov.30Reissued 54,000 treasury shares at a price of $31 pershare.

Required:

1. Determine the weighted average number of shares outstandingfor computing the current earnings per share. Round your interimcomputations and final answer for the number of shares to nearestwhole number.
_____ shares

2. Determine the number of common shares outstanding at December31, 2014.
_____ shares

Answer & Explanation Solved by verified expert
3.7 Ratings (480 Votes)
Solution Since there was a 2 for 1 split in September you have to calculate an as if the split occurred at the beginning of the year Also your results will depend on whether you use a 360 day 12    See Answer
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