Reference no: EM131261527
Weighted Average Shares
At the beginning of 2014, Hardin Company had 220,000 shares of $10 par common stock outstanding. During the year, it engaged in the following transactions related to its common stock:
Mar. 1 Issued 45,000 shares of stock at $22 per share.
June 1 Issued a 15% stock dividend.
July 1 Issued 10,000 shares of stock at $27 per share.
Aug. 31 Issued a 2-for-1 stock split on outstanding shares, reducing the par value to $5 per share.
Oct. 31 Reacquired 95,000 shares as treasury stock at a cost of $30 per share.
Nov. 30 Reissued 45,000 treasury shares at a price of $33 per share.
Required:
1. Determine the weighted average number of shares outstanding for computing the current earnings per share. Round your interim computations and final answer for the number of shares to nearest wh
2. Determine the number of common shares outstanding at December 31, 2014. ole number.
|
Equivalent units calculations-weighted average method
: Equivalent Units Calculations-Weighted Average Method Ferris Corporation makes a powdered rug shampoo in two sequential departments. Compounding and Drying. Materials are added at the beginning of the process in the Compounding Department. Calculate ..
|
|
Recognizes revenue for project upon completion of project
: Beck Construction Company began work on a new building project on January 1, 2015. The project is to be completed by December 31, 2017, for a fixed price of $146 million. What amount of gross profit (or loss) would Beck record on this project in each..
|
|
Produces custom goods and uses job costing
: This case focuses on the difference between a business that produces a standard good (and uses standard costing) and on that produces custom goods and uses job costing. Use a hybrid form of costing that utilizes both standard and job costing features
|
|
What are the ethical issues and relevant facts
: Chris, a CPA and formerly a staff accountant for a large public accounting firm, is the new controller for a small construction company that employs 60 people. The company is now facing tough times in light of a downturn in the construction industry...
|
|
Determine the number of common shares outstanding
: At the beginning of 2014, Hardin Company had 220,000 shares of $10 par common stock outstanding. During the year, Determine the weighted average number of shares outstanding for computing the current earnings per share. Determine the number of common..
|
|
Uses absorption manufacturing-cost pricing formulas
: The following costs relate to Southside Company: Variable manufacturing cost, $33; variable selling and administrative cost, $11; applied fixed manufacturing overhead, $18; and allocated fixed selling and administrative cost, $7. If Southside uses ab..
|
|
Incorporate as closely held corporation
: Assume, John Hankins, who owns Hankins Construction Co. and runs it as a proprietorship, had gross profit last year of $ 100,000. His personal and family expenses are $50,000 and he has $10,000 in exemption and deductions. What taxes would John pay a..
|
|
What nominal interest rate is being charged on this loan
: The EZ Credit Company offers to loan a college student $6,000 for school expenses. Repayment of the loan will be in monthly installments of $304.07 for 24 months. The total repayment of money is $7,297.68, which includes the original $6,000, $1,207.0..
|
|
Beginning to understand break-even analysis
: Jordan and Taylor are beginning to understand break-even analysis. Selling price to Yumminess at $10 per tin. The cost is $8 per tin, which includes $6 of direct material and $1.50 of direct labor. Annual manufacturing overhead is estimated at $100,0..
|