Accounting: Tools for Business Decision Making, 5th Edition

Published by Wiley
ISBN 10: 1118128168
ISBN 13: 978-1-11812-816-9

Chapter 11 - Reporting and Analyzing Stockholders' Equity - Questions - Page 603: 7

Answer

Number of shares authorized is 100,000 Number of shares issued is 70,000 Number of shares outstanding is nothing but the shares held after repurchasing the treasury stock.

Work Step by Step

Shares outstanding = Shares issued - Treasury stock = 70,000-4,000 = 66,000 Therefore, the number of shares outstanding is 66,000
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