On January 1, 2014, Wade Corporation had 24,000 shares of common stock outstanding. On April 1, it reacquired 2,400 shares; on July 1, it issued 10,800 shares; on October 1, it issued another 9,600 shares; and on December 1, it reacquired 900 shares. The weighted average number of common shares outstanding for 2014 was

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Quizplus · Accepted Answer

The weighted average number of shares outstanding is calculated by multiplying the number of shares outstanding at the beginning of each period by the number of days in the period and then dividing the sum of the products by the total number of days in the year. In this case, the weighted average number of shares outstanding is calculated as follows:(24,000 shares * 90 days) + (21,600 shares * 90 days) + (32,400 shares * 90 days) + (42,000 shares * 90 days) / 365 days = 29,925 shares

On January 1, 2014, Wade Corporation Had 24,000 Shares of Common