5. Equity Accounts. The authorized share capital of the Alfred Cake Company is 100,000 shares. The equity is currently shown in the company's books as follows: (LO14-3) Common stock ($1 par value) $ 60,000 Additional paid-in capital 10,000 Retained earnings Common equity 30,000 $100,000 Treasury stock (2,000 shares) Net common equity 5,000 $ 95,000 a. How many shares are issued? b. How many shares are outstanding? c. How many more shares can be issued without the approval of shareholders?

5. Equity Accounts. The authorized share capital of the Alfred Cake Company is 100,000 shares. The equity is currently shown in the company's books as follows: (LO14-3) Common stock ($1 par value) $ 60,000 Additional paid-in capital 10,000 Retained earnings Common equity 30,000 $100,000 Treasury stock (2,000 shares) Net common equity 5,000 $ 95,000 a. How many shares are issued? b. How many shares are outstanding? c. How many more shares can be issued without the approval of shareholders?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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