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28 May, 22:38

The following data is available for Pina Colada Corp. at December 31, 2017:

Common stock, par $10 (authorized 28000 shares) $196000

Treasury stock (at cost $15 per share) $900

Based on the data, how many shares of common stock are outstanding?

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Answers (1)
  1. 28 May, 22:49
    0
    No of common stock outstanding

    = Total value of common stock issued

    Par value per share

    = $196,000

    $10

    = 19,600 shares

    Explanation:

    In this case, we will divide the total value of common stock issued by the par value per share so as to obtain the number of common stock outstanding.
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Home » Business » The following data is available for Pina Colada Corp. at December 31, 2017: Common stock, par $10 (authorized 28000 shares) $196000 Treasury stock (at cost $15 per share) $900 Based on the data, how many shares of common stock are outstanding?
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