The following data is available for Blaine Corporation at December 31, 2012: Common stock, par $10 (authorized 25,000 shares) $200,000 Treasury Stock (at cost $15 per share) 900 Based on the data, how many shares of common stock are a) outstanding, and b) have been issued? a. 25,000 b. 20,000 c. 24,940 d. 19,940

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Business

Allyson Vang

2 October, 09:08

The following data is available for Blaine Corporation at December 31, 2012: Common stock, par $10 (authorized 25,000 shares) $200,000 Treasury Stock (at cost $15 per share) 900 Based on the data, how many shares of common stock are a) outstanding, and b) have been issued? a. 25,000 b. 20,000 c. 24,940 d. 19,940

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Taylor Villarreal · Answer 1

a) b. 20,000

b) b. 20,000

Explanation:

a) Number of common stocks issued = 200,000/10

= 20,000

So, 5000 stocks remain with company.

Number of common stocks outstanding = 20000

b) b. 20,000