Homework Answers
Authorized shares are the maximum number of shares which can be issued by the company.
Issued shares are the actual number of shares that have been issued and includes shares held in treasury.
Shares outstanding are those shares which are held by the public, in here, it is the number of shares that has been issued less the shares held in treasury by the company
The balance of issued shares appears in the balance sheet along with treasury stock below the retained earnings. Balance of retained earnings as given is $ 2,700,000 issued at par of $ 5.
12.
Number of common shares issued: $2,700,000/$5 par value = 540,000 common shares issued
Hence, the correct option is C. 540,000
13.
Number of common shares issued AND outstanding:
common shares outstanding = 540,000 issued - 25,000 shares in Treasury Stock = $ 515,000
Hence, the correct option is B. 515,000
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