[jeff]

FAR Resources:

Free FAR Notes & Audio – https://www.another71.com/cpa-exam-study-plan

FAR 10 Point Combo: https://www.another71.com/products-page/ten-point-combo

FAR Score Release: https://www.another71.com/cpa-exam-scores-results-release

Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

[Anonymous]

I guess telling how much (approximate) time left for SIMs is now a disclosure violation:)

[teeteenounouche]

Uh oh Amor D…lol

Well I am going to stay at work today until 10 pm or so studying, maybe 12 if I have to (security is there), …5-7 hours of studying should make a dent in my brain 🙂 I have too many distractions at home…

Florida:
AUD: 73, 81! Thank you Lord!
BEC: 73, 77! Thank you Lord! and WTB
REG: 71, 82! Thank you Lord! and A71
FAR: 72, 78! Thank you God and my Mommy in Heaven!

CPA Excel, Ninja Notes & Audio, Wiley Test Bank, CPAreviewforfree

[teeteenounouche]

Uh oh Amor D…lol

Well I am going to stay at work today until 10 pm or so studying, maybe 12 if I have to (security is there), …5-7 hours of studying should make a dent in my brain 🙂 I have too many distractions at home…

Florida:
AUD: 73, 81! Thank you Lord!
BEC: 73, 77! Thank you Lord! and WTB
REG: 71, 82! Thank you Lord! and A71
FAR: 72, 78! Thank you God and my Mommy in Heaven!

CPA Excel, Ninja Notes & Audio, Wiley Test Bank, CPAreviewforfree

[Anonymous]

Wow @Tee, it's your last CPA test on 2/28!

[Anonymous]

Wow @Tee, it's your last CPA test on 2/28!

[teeteenounouche]

Yes Amor, I can't believe it…I am on auto pilot at work it seems lol…my mind is mush and I am trying to push some more information in it!!

Florida:
AUD: 73, 81! Thank you Lord!
BEC: 73, 77! Thank you Lord! and WTB
REG: 71, 82! Thank you Lord! and A71
FAR: 72, 78! Thank you God and my Mommy in Heaven!

CPA Excel, Ninja Notes & Audio, Wiley Test Bank, CPAreviewforfree

[teeteenounouche]

Yes Amor, I can't believe it…I am on auto pilot at work it seems lol…my mind is mush and I am trying to push some more information in it!!

Florida:
AUD: 73, 81! Thank you Lord!
BEC: 73, 77! Thank you Lord! and WTB
REG: 71, 82! Thank you Lord! and A71
FAR: 72, 78! Thank you God and my Mommy in Heaven!

CPA Excel, Ninja Notes & Audio, Wiley Test Bank, CPAreviewforfree

[samdiegoCPA]

3. CPA-08236

An entity authorized 500,000 shares of common stock. At January 1, Year 2, the entity had 110,000 shares of common stock issued and 100,000 shares of common stock outstanding. The entity had the following transactions in Year 2:

March 1

Issued 15,000 shares of common stock

June 1

Resold 2,500 shares of treasury stock

September 1

Completed a 2-for-1 common stock split

What is the total number of shares of common stock that the entity has outstanding at the end of Year 2?

a. 117,500

b. 230,000

c. 235,000

d. 250,000

Why is this C? Don't you need to do the weighted average thing? All it does is 100,000 + 15,000 + 2,500 = $117,500 * 2

AUD: 84
REG: 84
BEC: 79
FAR: 83

[samdiegoCPA]

3. CPA-08236

An entity authorized 500,000 shares of common stock. At January 1, Year 2, the entity had 110,000 shares of common stock issued and 100,000 shares of common stock outstanding. The entity had the following transactions in Year 2:

March 1

Issued 15,000 shares of common stock

June 1

Resold 2,500 shares of treasury stock

September 1

Completed a 2-for-1 common stock split

What is the total number of shares of common stock that the entity has outstanding at the end of Year 2?

a. 117,500

b. 230,000

c. 235,000

d. 250,000

Why is this C? Don't you need to do the weighted average thing? All it does is 100,000 + 15,000 + 2,500 = $117,500 * 2

AUD: 84
REG: 84
BEC: 79
FAR: 83

[teeteenounouche]

Yes, I got 235K also. Why do you think you need weighted average to calculate? Can you please post the explanation?

Florida:
AUD: 73, 81! Thank you Lord!
BEC: 73, 77! Thank you Lord! and WTB
REG: 71, 82! Thank you Lord! and A71
FAR: 72, 78! Thank you God and my Mommy in Heaven!

CPA Excel, Ninja Notes & Audio, Wiley Test Bank, CPAreviewforfree

[teeteenounouche]

Yes, I got 235K also. Why do you think you need weighted average to calculate? Can you please post the explanation?

Florida:
AUD: 73, 81! Thank you Lord!
BEC: 73, 77! Thank you Lord! and WTB
REG: 71, 82! Thank you Lord! and A71
FAR: 72, 78! Thank you God and my Mommy in Heaven!

CPA Excel, Ninja Notes & Audio, Wiley Test Bank, CPAreviewforfree

[HeartsMimiCPA]

I think the weighted average is only used for calculating shares outstanding for EPS

AUD - 65, 89!
REG - 70, 89!
FAR - 78!
BEC - 77!

Finally!
Experience 06/30/15
Ethics-Done

VA Licensed 09/15/15

[HeartsMimiCPA]

I think the weighted average is only used for calculating shares outstanding for EPS

AUD - 65, 89!
REG - 70, 89!
FAR - 78!
BEC - 77!

Finally!
Experience 06/30/15
Ethics-Done

VA Licensed 09/15/15

[smsingla]

@samdiego we don't need weighted-average “thing” because in this question they are simply asking how many stocks are outstanding at the end of the year. If they were asking what will go in the denominator for calculation of basic earning per share, only than u would take weighted-average.

I guess sometimes our minds can't handle easy questions after all those MCQs in WTB. We see every question as that there has to be some trick behind it

REG 81
BEC 74,65,78
FAR 79
AUD 85 DONE!!!

[smsingla]

@samdiego we don't need weighted-average “thing” because in this question they are simply asking how many stocks are outstanding at the end of the year. If they were asking what will go in the denominator for calculation of basic earning per share, only than u would take weighted-average.

I guess sometimes our minds can't handle easy questions after all those MCQs in WTB. We see every question as that there has to be some trick behind it

REG 81
BEC 74,65,78
FAR 79
AUD 85 DONE!!!

[Author]

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