The charter of a corporation provides for the issuance of 100,000 shares of common stock. Assume...

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The charter of a corporation provides for the issuance of 100,000 shares of common stock. Assume...

The charter of a corporation provides for the issuance of 100,000 shares of common stock. Assume that 60,000 shares were originally issued and 10,000 were subsequently reacquired. What is the number of shares outstanding? a)40,000 b) 70,000 c) 50,000 d) 60,000

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Answer 1

Answer #1

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--Outstanding shares = Shares issued - Shares re-acquired as Treasury stock
= 60000 shares - 10000 shares
= 50,000 shares

--Correct Answer = Option 'C' 50000 shares

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Answer 2

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