Kress Products' corporate charter authorized the firm to sell 800,000 shares of $10 par common stock. At the beginning of 2019, Kress sold 318,000 shares and reacquired 4,500 of those shares. The reacquired shares were held as treasury stock. During 2019, Kress sold an additional 24,350 shares and purchased 8,200 more treasury shares. Required: Determine the number of issued and outstanding shares at December 31, 2019. Issued shares fill in the blank 1 shares Outstanding shares fill in the blank 2 shares
Kress Products' corporate charter authorized the firm to sell 800,000 shares of $10 par common stock. At the beginning of 2019, Kress sold 318,000 shares and reacquired 4,500 of those shares. The reacquired shares were held as treasury stock. During 2019, Kress sold an additional 24,350 shares and purchased 8,200 more treasury shares. Required: Determine the number of issued and outstanding shares at December 31, 2019. Issued shares fill in the blank 1 shares Outstanding shares fill in the blank 2 shares
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Accounting for Shares
Kress Products' corporate charter authorized the firm to sell 800,000 shares of $10 par common stock. At the beginning of 2019, Kress sold 318,000 shares and reacquired 4,500 of those shares. The reacquired shares were held as
Required:
Determine the number of issued and outstanding shares at December 31, 2019.
Issued shares | fill in the blank 1 shares |
Outstanding shares | fill in the blank 2 shares |
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