Windsor Corporation had 141,600 shares of stock outstanding on January 1, 2017. On May 1, 2017,...

Windsor Corporation had 141,600 shares of stock outstanding on January 1, 2017. On May 1, 2017, Windsor issued 48,000 shares. On July 1, Windsor purchased 9,600 treasury shares, which were reissued on October 1. Compute Windsor’s weighted-average number of shares outstanding for 2017.

Expert Solution

--Correct Answer = 171,200 shares

	No. of shares	Cumulative no. of shares outstanding	Period they remained outstanding	Weighted Average no. of shares outstanding
Beginning Balance	141,600	141,600	1 Jan to 30 April = 4 months	47,200	[141600 x 4/12]
May 1: Issued	48,000	189,600	1 May to 30 June = 2 months	31,600	[189600 x 2/12]
Jul 1: Treasury Stock	(9,600)	180,000	1 Jul to Sept 30 = 3 months	45,000	[180000 x 3/12]
Oct 1: Reissued	9,600	189,600	1 Oct to 31 Dec = 3 months	47,400	[189600 x 3/12]
Weighted Average no. of shares outstanding for 2017				171,200 = Answer

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