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On December 31, 2021, Filipe Company had 300,000 shares of common stock issued and outstanding. Filipe issued a 7% stock dividend on June 30, 2022. On September 30, 2022, 37,000 shares of common stock
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On December 31, 2021, Filipe Company had 300,000 shares of common stock issued and outstanding. Filipe issued a 7% stock dividend on June 30, 2022. On September 30, 2022, 37,000 shares of common stock were reacquired as treasury stock. What is the appropriate number of shares to be used in the basic earnings per share computation for 2022?

User Stuart Breckenridge
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1 vote

Answer:

290,750

Step-by-step explanation:

Weighted Average shares as at September 30,2022 300,000*9/12=225,000

Weighted Average share as at 31 December 2022 (300,000-37,000)*3/12=65,750

Total Weighted Average Shares to be used in basic EPS computation =225,000+65,750=290,750

User Geraldhumphries
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