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Question - Newton Inc. uses a calendar year for financial reporting. Listed below is a summary of Newton's common stock activities.
Number of common shares issued and outstanding at December 31, 2018 3,000,000
Shares issued as a result of a 20% stock dividend on September 30, 2019 600,000
Shares issued for cash on March 31, 2020 1,200,000
Number of common shares issued and outstanding at December 31, 2020 4,800,000
Compute the weighted-average number of common shares used in computing earnings per common share for 2019 on the 2020 comparative income statement.
a. 3,000,000
b. 3,600,000
c. 3,150,000
d. 2,700,000
On January 1, 2015, when its $30 par value common stock was selling for $80 per share, Prepare the journal entry to record the original issuance
the primary reason for the popularity of lifo is that ita. provides better matching of physical flow and cost flow.b.
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