Greenwell Coffee Company began operations on the first day of the year. On that day they issued 100,000 shares. On March 1 they issued 23,000 shares and on July 1, another 30,000 shares. On December 1, Greenwell repurchased 6,000 shares of outstanding shares. Compute the weighted-average shares of stock for the first year of operation. (Round your final answer to the nearest whole number.)

Question

Quizplus · Accepted Answer

Weighted-average shares = (Shares outstanding * Days outstanding) / Total days in the year= [(100,000 * 365) + (23,000 * 304) + (30,000 * 184) - (6,000 * 31)] / 365= 51,845,000 / 365= 142,041= 142,041 rounded to the nearest whole number = 133,667

Greenwell Coffee Company Began Operations on the First Day of the Year