# Intermediate Accounting II - Chapter 16 Homework

Question # 00004341 Posted By: neil2103 Updated on: 12/01/2013 11:28 PM Due on: 12/24/2013
Subject Finance Topic Finance Tutorials:
Question
 E16-15 (Weighted-Average Number of Shares) Newton Inc. uses a calendar year for financial reporting. The company is authorized to issue 9,000,000 shares of \$10 par common stock. At no time has Newton issued any potentially dilutive securities. Listed below is a summary of Newton’s common stock activities. 1. Number of common shares issued and outstanding at December 31, 2012 2,000,000 2. Shares issued as a result of a 10% stock dividend on September 30, 2013 200,000 3. Shares issued for cash on March 31, 2014 2,000,000 Number of common shares issued and outstanding at December 31, 2014 4,200,000 4. A 2-for-1 stock split of Gogean’s common stock took place on March 31, 2015 Instructions: (a) Compute the weighted average number of common shares used in computing earnings per common share for 2013 on the 2014 comparative income statement. Text title Formula Text title Percentage Text title Formula Text title Formula Shares outstanding Formula (b) Compute the weighted average number of common shares used in computing earnings per common share for 2014 on the 2014 comparative income statement. Text title Formula Text title Formula Shares outstanding Formula (c) Compute the weighted average number of common shares to be used in computing earnings per common share for 2014 on the 2015 comparative income statement. Text title Formula Text title Number Shares outstanding Formula (d) Compute the weighted average number of common shares to be used in computing earnings per common share for 2015 on the 2015 comparative income statement. Text title Number Text title Number Text title Formula Text title Formula Shares outstanding Formula
Tutorials for this Question
1. ## Solution: Intermediate Accounting II - Chapter 16 Homework ex-16-15

Tutorial # 00004138 Posted By: neil2103 Posted on: 12/01/2013 11:31 PM
Puchased By: 5
Tutorial Preview
The solution of Intermediate Accounting II - Chapter 16 Homework ex-16-15...
Attachments
Intermediate_Accounting_II_-_Chapter_16_Homework_sol.xls (42 KB)
Recent Feedback
Rated By Feedback Comments Rated On
tg...ist Awesome quality 07/07/2015
z...ee The experts do a wonderful job 05/02/2014
DK...on The tutors are experts in their field 02/04/2014

Great! We have found the solution of this question!