Workshop2_Ch16_keys.pdf - ACCT325Workshop2Ch. TotalPoints:20 DueDate:Tuesday,February6,2018( Name . 37,500,000sharesof$1parcommonstock.Listedbelowisa

Workshop2_Ch16_keys.pdf - ACCT325Workshop2Ch....

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1 ACCT325 Workshop 2‐Ch.16 Weighted‐Average Number of Share Total Points: 20 Due Date: Tuesday, February 6, 2018 (At the beginning of class) Name:_______________________________ Assuming XYZ uses a calendar year for financial reporting. The company is authorized to issue37,500,000 shares of $1 par common stock. Listed below is a summary of XYZ’s common stock activities.1. Number of common shares issued and outstanding at December 31, 20143,000,0002. Shares issued as a result of a 40% stock dividend on August 1, 20151,200,0003. Shares issued for cash on May 31, 20161,875,000Number of common shares issued and outstanding at December 31, 20166,075,0004. A 3‐for‐1 stock split of XYZ’s common stock took place on July 31, 2017Instructions:(a)Compute the weighted average number of common shares used in computing earnings percommon share for 2015 on the 2016 comparative income statement.
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