The charter of a corporation provides for the issuance of 100,000 shares of common stock. Assume that 45,000 shares were originally issued and 5,000 were subsequently reacquired. What is the number of shares outstanding? a. 5,000 b. 45,000 c. 40,000 d. 50,000
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- A corporation issued 100 shares of $100 par value preferred stock for $150 per share. The resulting journal entry would include which of the following? A. a credit to common stock B. a credit to cash C. a debit to paid-in capital in excess of preferred stock D. a debit to cashAutumn Corporation was organized in August. It is authorized to issue 100,000 shares of $100 par value 7% preferred stock. It is also authorized to issue 500,000 shares of $5 par value common stock. During the year, the corporation had the following transactions: Journalize the transactions.Authorized stock represents the: number of shares that are currently held by stockholders. number of shares that have been sold. number of shares that have been repurchased by the corporation. maximum number of shares that can be issued.
- 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.Copper Corporation was organized in May. It is authorized to issue 50,000,000 shares of $200 par value 7% preferred stock. It is also authorized to issue 75,000,000 shares of $5 par value common stock. In its first year, the corporation has the following transactions: Journalize the transactions.The charter of a corporation provides for the issuance of 100.000 shares of common stock. Assume that 60,000 shares were originally issued and 5,000 were subsequently reacquired. What is the number of shares outstanding? a. 5,000. b. 100.000. c. 60,000. d. 55.000.
- The charter of a corporation provides for the issuance of 115,000 shares of common stock. Assume that 60,000 shares were originally issued and 13,800 were subsequently reacquired. What is the number of shares outstanding? a.13,800 b.115,000 c.60,000 d.46,200The charter of a corporation provides for the issuance of 136,000 shares of common stock. Assume that 65,000 shares were originally issued and 11,800 were subsequently reacquired. What is the number of shares outstanding? a. 53,200 b. 136,000 Oc. 65,000 Od. 11,800Need Help