On January 1, 2021, Indigo Corp. had 502,000 shares of common stock outstanding. During 2021,...
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Accounting
On January 1, 2021, Indigo Corp. had 502,000 shares of common stock outstanding. During 2021, it had the following transactions that affected the Common Stock account.
February 1
Issued 125,000 shares
March 1
Issued a 10% stock dividend
May 1
Acquired 98,000 shares of treasury stock
June 1
Issued a 3-for-1 stock split
October 1
Reissued 58,000 shares of treasury stock
Determine the weighted-average number of shares outstanding as of December 31, 2021.
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