The charter of a corporation provides for the issuance of 111,000 shares of common stock. Assume that 52,000 shares were originally issued and 12,400 were subsequently reacquired. What is the number of shares outstanding? Select the correct answer. a-12,400 b-52,000 c-39,600 d-111,000

The charter of a corporation provides for the issuance of 111,000 shares of common stock. Assume that 52,000 shares were originally issued and 12,400 were subsequently reacquired. What is the number of shares outstanding? Select the correct answer. a-12,400 b-52,000 c-39,600 d-111,000

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter14: Corporation Accounting

Section: Chapter Questions

Problem 7Q: A corporation issues 6,000 shares of $1 par value stock for a parcel of land valued at $12,000....

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Select the correct answer.

a-12,400

b-52,000

c-39,600

d-111,000

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