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On January 1, 2018, Coronado Corp. had 491,000 shares of common stock outstanding. During 2018, it...

On January 1, 2018, Coronado Corp. had 491,000 shares of common stock outstanding. During 2018, it had the following transactions that affected the Common Stock account.

February 1 Issued 114,000 shares

March 1 Issued a 10% stock dividend

May 1 Acquired 103,000 shares of treasury stock

June 1 Issued a 3-for-1 stock split

October 1 Reissued 60,000 shares of treasury stock

Determine the weighted-average number of shares outstanding as of December 31, 2018.

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Expert Solution

Event Dates Outstanding Number of Months Shares Outstanding Stock Spilt Weighted Shares
Beginning Balance 1st Jan-1st Feb 1                    491,000.00                 40,916.67
Issued Shares 1st Feb-1st March 1                    605,000.00                 50,416.67
stock Dividend 1st March-May 1 2                    665,500.00              110,916.67
Reacquired Shares 1st May-June 1 1                    562,500.00                 46,875.00
Stock Spilt 1st June-1st October 4                1,687,500.00 3              562,500.00
Reissued Shares 1st October-31st Dec 3                1,747,500.00              436,875.00
weighted-average number of shares outstanding as of December 31, 2018.           1,248,500.00

ekkarill92 answered 2 years ago
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