None The charter of a corporation provides for the issuance of100,000 shares of common stock. Assume that 45,000 shareswere originally issued and 5,000 were subsequentlyreacquired.What is the number of shares outstanding?a. 5,000b. 45,000c. 40,000d. 50,000

Here is the explanation for the answer:GivenShares Issued: 45,000 sharesShares Reacquired (Treasury…

Answered: The charter of a corporation provides…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter14: Corporation Accounting

Section: Chapter Questions

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

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The charter of a corporation provides for the issuance of 25,000 shares of common stock. Assume that 15,000 shares were originally issued and 3,000 were subsequently reacquired. What is the number of shares outstanding? Answer a. 3,000 b. 12,000 c. 22,000 d. 15,000 e. 18,000
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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