Assume the following information for Western Sales, Inc.: • Common Stock, $1.00 par, 226,000 shares issued, 182,000 shares outstanding • Paid-In Capital in Excess of Par-Common: $1,750,000 • Retained Earnings: $2,560,000 • Treasury Stock: 44,000 shares purchased at $14 per share If Western Sales purchases an additional 11,000 shares of treasury stock at $17 per share, what number of shares will be shown as issued and outstanding? O 215,000 issued; 182,000 outstanding O 226,000 issued; 182,000 outstanding O 226,000 issued; 171,000 outstanding O 182,000 issued; 182,000 outstanding
Assume the following information for Western Sales, Inc.: • Common Stock, $1.00 par, 226,000 shares issued, 182,000 shares outstanding • Paid-In Capital in Excess of Par-Common: $1,750,000 • Retained Earnings: $2,560,000 • Treasury Stock: 44,000 shares purchased at $14 per share If Western Sales purchases an additional 11,000 shares of treasury stock at $17 per share, what number of shares will be shown as issued and outstanding? O 215,000 issued; 182,000 outstanding O 226,000 issued; 182,000 outstanding O 226,000 issued; 171,000 outstanding O 182,000 issued; 182,000 outstanding
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
100%
33. Help me selecting the right answer. Thank you
Transcribed Image Text:Assume the following information for Western Sales, Inc.:
Common Stock, $1.00 par, 226,000 shares issued, 182,000 shares outstanding
Paid-In Capital in Excess of Par-Common: $1,750,000
• Retained Earnings: $2,560,000
Treasury Stock: 44,000 shares purchased at $14 per share
·
●
If Western Sales purchases an additional 11,000 shares of treasury stock at $17 per share, what number of shares will be shown as issued and outstanding?
215,000 issued; 182,000 outstanding
226,000 issued; 182,000 outstanding
226,000 issued; 171,000 outstanding
182,000 issued; 182,000 outstanding
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education