What is the number of shares outstanding on this accounting question? Mountain Ridge Corporation's charter authorizes the issuance of200,000 shares of common stock. Assume that 80,000 shares wereoriginally issued and 15,000 were subsequently reacquired.What is the number of shares outstanding?a. 15,000b. 80,000c. 65,000d. 85,000

Step 1: Define Shares OutstandingShares outstanding refer to the number of shares of a company's…

Answered: Mountain Ridge Corporation's charter…

Principles of Accounting Volume 1

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Chapter14: Corporation Accounting

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Problem 4PB: MacKenzie Mining Corporation is authorized to issue 50,000 shares of $500 par value 7% preferred...

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MacKenzie Mining Corporation is authorized to issue 50,000 shares of $500 par value 7% preferred stock. It is also authorized to issue 5,000,000 shares of $3 par value common stock. In its first year, the corporation has the following transactions: Journalize the transactions.
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Mountain Ridge Corporation's charter authorizes the issuance of 200,000 shares of common stock. Assume that 80,000 shares were originally issued and 15,000 were subsequently reacquired. What is the number of shares outstanding? a. 15,000 b. 80,000 c. 65,000 d. 85,000