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Compute the weighted-average number of common stock

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Reference no: EM132580138

Weighted-Average Shares Outstanding

On January 1, 2020, Lincoln Company had 600,000 shares of $10 par common stock outstanding. During 2020, Lincoln had the following transactions that affected the common stock account.

March 1 Issued 100,000 shares

May 1 Issued a 20% stock dividend

July 1 Acquired 60,000 shares of treasury stock

September 1 Reissued 40,000 shares of treasury stock

November 1 Issued a 2-for1 stock split

Instructions:

Question 1: Compute the weighted-average number of common stock shares outstanding as of December 31, 2020.

Reference no: EM132580138

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