The charter of a corporation provides for the issuance of 105,000 shares of common stock. Assume that 63,000 shares were originally issued and 12,600 were subsequently reacquired. What is the number of shares outstanding? Oa. 50,400 Оь. 63,000 Ос. 12,600 Od. 105,000

The charter of a corporation provides for the issuance of 105,000 shares of common stock. Assume that 63,000 shares were originally issued and 12,600 were subsequently reacquired. What is the number of shares outstanding? Oa. 50,400 Оь. 63,000 Ос. 12,600 Od. 105,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

Stockholder's Equity

The stockholders’ equity (often referred to as the book value of the company) is the number of assets available to the stockholder after its entire liabilities is paid off. The stockholders’ equity is also sometimes referred to as owner's equity. The stockholders’ equity or book value generally includes common stock, treasury stock retained earnings. It is an indicator of a company's financial strength and is an important item on the company's balance sheet.

Question

The charter of a corporation provides for the issuance of 105,000 shares of common stock. Assume that 63,000 shares were originally issued and 12,600 were subsequently
reacquired. What is the number of shares outstanding?
Оа. 50,400
Оb. 63,000
Oc. 12,600
Od. 105,000
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