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  • Newton Inc Uses A Calendar Year For Financial Reporting The

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    M Bilal Saleem
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    Newton Inc. uses a calendar year for financial reporting. The document outlines Newton's common stock activities from 2005 to 2008, including shares issued and outstanding each year, a 10% stock dividend in 2006, shares issued for cash in 2007, and a 2-for-1 stock split in 2008. It provides instructions to compute weighted-average number of common shares for earnings per share calculations for 2006-2007 and 2007-2008 financial statements.

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    Newton Inc Uses a Calendar Year for Financial Reporting The

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    Newton Inc. uses a calendar year for financial reporting. The document outlines Newton's common stock activities from 2005 to 2008, including shares issued and outstanding each year, a 10% stock dividend in 2006, shares issued for cash in 2007, and a 2-for-1 stock split in 2008. It provides instructions to compute weighted-average number of common shares for earnings per share calculations for 2006-2007 and 2007-2008 financial statements.

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    13 views1 page

    Newton Inc Uses A Calendar Year For Financial Reporting The

    Uploaded by

    M Bilal Saleem
    Newton Inc. uses a calendar year for financial reporting. The document outlines Newton's common stock activities from 2005 to 2008, including shares issued and outstanding each year, a 10% stock dividend in 2006, shares issued for cash in 2007, and a 2-for-1 stock split in 2008. It provides instructions to compute weighted-average number of common shares for earnings per share calculations for 2006-2007 and 2007-2008 financial statements.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    Newton Inc uses a calendar year for financial reporting The

    Newton 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 Newton issued any potentially
    dilutive securities. Listed below is a summary of Newton’s common stock activities. 1. Number
    of common shares issued and outstanding at December 31, 2005 ....2,000,0002. Shares issued
    as a result of a 10% stock dividend on September 30, 2006 .....200,0003. Shares issued for
    cash on March 31, 2007 ...................2,000,000Number of common shares issued and
    outstanding at December 31, 2007 .....4,200,0004. A 2-for-1 stock split of Newton’s common
    stock took place on March 31, 2008.Instructions(a) Compute the weighted-average number of
    common shares used in computing earnings per common share for 2006 on the 2007
    comparative income statement.(b) Compute the weighted-average number of common shares
    used in computing earnings per common share for 2007 on the 2007 comparative income
    statement.(c) Compute the weighted-average number of common shares to be used in
    computing earnings per common share for 2007 on the 2008 comparative income statement.(d)
    Compute the weighted-average number of common shares to be used in computing earnings
    per common share for 2008 on the 2008 comparative income statement.View Solution:
    Newton Inc uses a calendar year for financial reporting The
    SOLUTION-- http://expertanswer.online/downloads/newton-inc-uses-a-calendar-year-for-
    financial-reporting-the/

    See Answer here expertanswer.online


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