What is the number of shares outstanding? The charter of Quantum Innovations provides for theissuance of 150,000 shares of common stock. Assumethat 60,000 shares were originally issued and 10,000were subsequently reacquired.What is the number of shares outstanding?a. 10,000b. 60,000c. 50,000d. 70,000

Here's how we can calculate it:Shares originally issued: 60,000Shares reacquired: 10,000Formula:…

Answered: The charter of Quantum Innovations…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter10: Stockholder's Equity

Section: Chapter Questions

Problem 5MCQ

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The charter of Quantum Innovations provides for the issuance of 150,000 shares of common stock. Assume that 60,000 shares were originally issued and 10,000 were subsequently reacquired. What is the number of shares outstanding? a. 10,000 b. 60,000 c. 50,000 d. 70,000