Homework Answers
Answer: d. 80,000 shares issued; 78,000 shares outstanding
Explanation:
i.Total shares issued = 80,000 shares
ii.Total shares outstanding = Total shares issued - Treasury stock
=80,000 shares - 2,000 shares
=78,000 shares
Thus,
a. 78,000 shares issued; 2,000 shares outstanding is incorrect because 80,000 shares issued; 78,000 shares outstanding is correct
b. 80,000 shares issued; 2,000 shares outstanding is incorrect because 80,000 shares issued; 78,000 shares outstanding is correct
c. 78,000 shares issued; 78,000 shares outstanding is incorrect because 80,000 shares issued; 78,000 shares outstanding is correct
d. 80,000 shares issued; 78,000 shares outstanding is correct.
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