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10 September, 07:44

Petite Fashions issued 500,000 of its 2 million shares of authorized common stock. At the end of the accounting period, 450,000 shares are outstanding. How many shares of treasury stock does Petite Fashions have?

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  1. 10 September, 09:40
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    Treasury shares = $50,000

    Explanation:

    given data

    share issued = $500,000

    authorized common stock = 2 million

    Shares outstanding = $450000

    to find out

    How many shares of treasury stock

    solution

    we get here Treasury shares that is express as

    Treasury shares = Shares issued - Shares outstanding ... 1

    put here value we get

    Treasury shares = $500000 - $450000

    Treasury shares = $50,000
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