Compute the weighted-average number of shares to be used in, Ask an Expert

Accounting

On January 1, 2013, Warren Corporation had 1,000,000 shares of common stock outstanding. On March 1, the corporation issued 150,000 new shares to raise additional capital. On July 1, the corporation declared and issued a 2-for-1 stock split. On October 1, the corporation purchased on the market 400,000 of its own outstanding shares and retired them.

Required:

(a) Compute the weighted-average number of shares to be used in computing earnings per share for 2013.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M947530

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