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A firm has a float of 50 million shares, 5 million restricted shares, and 10 million s treasury stock. There are also 135 million unissued shares. How many million shar authorized? (give your answer in millions) O 50 million

A firm has a float of 50 million shares, 5 million restricted shares, and 10 million s treasury stock. There are also 135 million unissued shares. How many million shar authorized? (give your answer in millions) O 50 million

FINANCIAL ACCOUNTING
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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**Question:** A firm has a float of 50 million shares, 5 million restricted shares, and 10 million shares in the treasury stock. There are also 135 million unissued shares. How many million shares are authorized? (give your answer in millions) **Options:** - A) 50 million - B) 55 million - C) 60 million - D) 65 million - E) 200 million **Explanation:** To find the total number of authorized shares, add all types of shares together: - Float: 50 million shares - Restricted shares: 5 million shares - Treasury stock: 10 million shares - Unissued shares: 135 million shares **Total authorized shares = 50 + 5 + 10 + 135 = 200 million shares** The correct answer is **200 million**.
Transcribed Image Text:**Question:** A firm has a float of 50 million shares, 5 million restricted shares, and 10 million shares in the treasury stock. There are also 135 million unissued shares. How many million shares are authorized? (give your answer in millions) **Options:** - A) 50 million - B) 55 million - C) 60 million - D) 65 million - E) 200 million **Explanation:** To find the total number of authorized shares, add all types of shares together: - Float: 50 million shares - Restricted shares: 5 million shares - Treasury stock: 10 million shares - Unissued shares: 135 million shares **Total authorized shares = 50 + 5 + 10 + 135 = 200 million shares** The correct answer is **200 million**.
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