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

Question

Mylie Kidd

Business

19 October, 13:33

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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Answers (1)

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Carter Dunn · 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