Appropriate number of shares used in the basic earning share, Accounting Basics

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Appropriate number of shares used in the basic earning share

On December 31, 2010, Albacore Company had 300,000 shares of common stock issued and outstanding. Albacore issued a 10% stock dividend on June 30, 2011. On September 30, 2011, 12,000 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 2011?

a. 303,000.

b. 342,000.

c. 312,000.

d. 327,000.

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Accounting Basics: Appropriate number of shares used in the basic earning share

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Accounting Basics: Appropriate number of shares used in the basic earning share

Reference No:- TGS071777

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Recent Questions Asked Accounting Basics

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Accounting Basics: Appropriate number of shares used in the basic earning share

Reference No:- TGS071777

Recent Questions Asked Accounting Basics

Q : Income taxes on disposal of the stock

Q : Basic earnings per share-consideration the stock split

Q : Cox diluted earnings per share

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Q : Report as capitalized lease liability

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