The charter of a corporation provides for the issuance of 136,000 shares of common stock. Assume that 65,000 shares were originally issuedand 11,800 were subsequently reacquired. What is the number of shares outstanding?a. 53,200b. 136,000Oc. 65,000Od. 11,800

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Business

Accounting

What is the number of shares outstanding?

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter14: Corporation Accounting

Section: Chapter Questions

Problem 6Q: The following data was reported by Saturday Corporation: Authorized shares: 30,000 Issued shares:...

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Concept explainers

Stockholder's Equity

The stockholders’ equity (often referred to as the book value of the company) is the number of assets available to the stockholder after its entire liabilities is paid off. The stockholders’ equity is also sometimes referred to as owner's equity. The stockholders’ equity or book value generally includes common stock, treasury stock retained earnings. It is an indicator of a company's financial strength and is an important item on the company's balance sheet.

Question

The charter of a corporation provides for the issuance of 136,000 shares of common stock. Assume that 65,000 shares were originally issued
and 11,800 were subsequently reacquired. What is the number of shares outstanding?
a. 53,200
b. 136,000
Oc. 65,000
Od. 11,800

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