The authorized share capital of the Alfred Cake Company is 120,000 shares. The equity is currently...
The authorized share capital of the Alfred Cake Company is 120,000 shares. The equity is currently shown in the company’s books as follows:
How many shares a. issued, b. outstanding and c. how many more shares can be issued without the approval of shareholders?
| Common stock ($2 par value) | $ | 80,000 |
| Additional paid-in capital | 30,000 | |
| Retained earnings | 50,000 | |
| Common equity | $ | 160,000 |
| Treasury stock (2,000 shares) | 24,000 | |
| Net common equity | $ | 136,000 |
Homework Answers
a) Issued shares = Common stock / Par value = 80,000 / 2 = 40,000
b) Treasury shares = 24,000 / 2 = 12,000
Outstanding shares = 40,000 - 12,000 = 28,000
c) More shares that can be issued = 120,000 - 28,000 = 92,000
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The authorized share capital of the Alfred Cake Company
is 120,000 shares. The equity is currently...
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