ABC is authorized to issue 20,000 shares of $1 par value stock. On Feb. 1, it issues 4,000 shares. On April 1, an additional 6,000 shares are issued. On Sept. 23, ABC repurchases 2,000 shares and holds them in treasury. How many shares are outstanding as of Sept 23? Select one: a. 20,000 b. 28,000 c. 11,000 d. 8,000 e. 10,000 ABC is authorized to issue 20,000 shares of $1 par value stock.On Feb 1,Select one20.000Ob 20,000De 11.000Od 8.00010,0004,000 shares. On April 1, an additional 6,000 shares are issued. On Sept 23, ABC repurchases 2,000 shares and holds them in treasury How many shares aw outstanding as of Sept 237

Treasury shares are those shares which are being repurchased by the company from its shareholders.…

Answered: ABC is authorized to issue 20,000…

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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ABC is authorized to issue 20,000 shares of $1 par value stock. On Feb. 1, it issues 4,000 shares. On April 1, an additional 6,000 shares are issued. On Sept. 23, ABC repurchases 2,000 shares and holds them in treasury. How many shares are outstanding as of Sept 23? Select one: a. 20,000 b. 28,000 c. 11,000 d. 8,000 e. 10,000

ABC is authorized to issue 20,000 shares of $1 par value stock.
On Feb 1,
Select one
20.000
Ob 20,000
De 11.000
Od 8.000
10,000
4,000 shares. On April 1, an additional 6,000 shares are issued. On Sept 23, ABC repurchases 2,000 shares and holds them in treasury How many shares aw outstanding as of Sept 237

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