The charter of a corporation (articles of incorporation) 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? O 5,000 55,000 O60,000 100,000

The charter of a corporation (articles of incorporation) 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? O 5,000 55,000 O60,000 100,000

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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Please help me answer this ty

The charter of a corporation (articles of incorporation) provides for the issuance
of 100,000 shares of common stock. Assume that 60.000 shares were originally
issued and 5,000 were subsequently reacqutred What Is the number of shares
outstanding?
5,000
55,000
60,000
100,000

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