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24 November, 14:36

The following data is available for BOX Corporation at December 31, 2017: Common stock, par $10 (authorized 30000 shares) Treasury stock (at cost $15 per share) Based on the data, how many shares of common stock are issued? $270000 $1200 a. 26920. b. 29920. c. 30000. d. 27000.

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  1. 24 November, 16:13
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    A) 26920

    Explanation:

    Issued common stock with par $10, total $270,000. The total number of issued stocks = $270,000 / $10 per stock = 27,000 stocks

    Stocks held in Treasury = $1,200 / $15 per stock = 80 stocks

    The total number of outstanding stock = total number of issued stocks - stocks held in Treasury = 27,000 stocks - 80 stocks = 26,920 stocks
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