Calvert Excavation Consultants began the current year with 31,800 common shares outstanding. It issued additional...
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Calvert Excavation Consultants began the current year with 31,800 common shares outstanding. It issued additional shares of 16,800 and 20,400 on April 1 and September 1, respectively. The company also purchased 5,400 shares of treasury stock on November 1. The firm's year end is December 31. Based on this information, compute the weighted-average number of common shares outstanding for Calvert Excavation Consultants assuming that the company implemented a 8 % stock dividend on December
1. (Enter a decrease in shares outstanding with a minus sign or parentheses.)
Number of Shares
Weight by Number of Months
Weighted-Average
Date
Event
Outstanding
Shares Are Outstanding
Shares Outstanding
1/1
Balance
4/1
New Issue
9/1
New Issue
11/1
Treasury Stock Purchase
Subtotal
12/1
8% Stock Dividend
12/31
Balance
Answer & Explanation
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