Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN: 9781337690881
Author: Jay Rich, Jeff Jones
Publisher: Cengage Learning
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Problem of Financial Accounting: The charter
of a corporation provides for the issuance of
100,000 shares of common stock. Assume that
85,000 shares were originally issued and 5,000
were subsequently reacquired. What is the
number of shares outstanding?
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Transcribed Image Text:Problem of Financial Accounting: The charter of a corporation provides for the issuance of 100,000 shares of common stock. Assume that 85,000 shares were originally issued and 5,000 were subsequently reacquired. What is the number of shares outstanding?
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