AC 302 Chapter 16 Question 15

AC 302 Chapter 16 Question 15
Name				Date		
Instructor				Course		
Intermediate Accounting 14th Edition by Kieso Weygandt and Warfield						
Primer on Using Excel in Accounting by Rex A Schildhouse						
						
E16-15 (Weighted-Average Number of Shares) Gogean 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 Gogean issued any potentially dilutive securities. Listed below is a summary of Gogean- common stock activities.						
						
1. Number of common shares issued and outstanding at December 31, 2011						2,400,000 
2. Shares issued as a result of a 10% stock dividend on September 30, 2012						240,000 
3. Shares issued for cash on March 31, 2013						2,000,000 
Number of common shares issued and outstanding at December 31, 2013						4,640,000 
4. A 2-for-1 stock split of Gogean- common stock took place on March 31, 2014						
						
Instructions:						
"(a) Compute the weighted average number of common shares used in computing earnings per
     common share for 2012 on the 2013 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 2013 on the 2013 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 2013 on the 2014 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 2014 on the 2014 comparative income statement."						
						
						
	Text title					Number
	Text title					Number
	Text title					Formula
	Text title					Formula
Shares outstanding 						Formula