The charter of a corporation provides for the issuance of 111,000 shares of common stock. Assume that 59,000 shares were originally issued and 5,100 were subsequently reacquired. What is the number of shares outstanding? Select the correct answer. 64,100 59,000 53,900 5,100

The charter of a corporation provides for the issuance of 111,000 shares of common stock. Assume that 59,000 shares were originally issued and 5,100 were subsequently reacquired. What is the number of shares outstanding? Select the correct answer. 64,100 59,000 53,900 5,100

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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A corporation had the following information related to its shares of common stock during the current year. January 1 May 30 October 1 Common shares outstanding Acquired common shares Reissued treasury stock November 30 Declared 2-for-1 stock split At December 31, how many shares of common stock did this corporation have outstanding? O 19,900 O 39,800 41,000 39,900 20,000 300 200
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