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On January 1, 2018, Waterway Industries had 394000 shares of its $2 par value common stock...

On January 1, 2018, Waterway Industries had 394000 shares of its $2 par value common stock outstanding. On March 1, Waterway sold an additional 759000 shares on the open market at $20 per share. Waterway issued a 20% stock dividend on May 1. On August 1, Waterway purchased 415000 shares and immediately retired the stock. On November 1, 610000 shares were sold for $25 per share. What is the weighted-average number of shares outstanding for 2018? (Rounded to the nearest dollar.)

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Statement Showing waterways's weighted Average No. of Share balance at end of 31/Dec/2018
Transaction No. of Shares Cummulative Stock Balance Start Date No. of Days in Year Weighted no. of share Remark
Opening Balance      394,000                      394,000 01/01/2018 59                63,688 394000*59/365
Issued additional Share      759,000                  1,153,000 01/03/2018 61             192,693 1153000*61/365
Issued 20% Stock dividend (1153000*20%)      230,600                  1,383,600 01/05/2018 92             348,743 1383600*92/365
Purchase & Retired Stock    (415,000)                      968,600 01/08/2018 92             244,140 968600*92/365
Issued share      610,000                  1,578,600 01/11/2018 61             263,821 1578600*61/365
Total Weighted Average Outstanding Share 365          1,113,085

ekkarill92 answered 11 months ago
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