The charter of a corporation provides for the issuance of 120,000 shares of common stock. Assume that 45,000 shares were originally issued and 6,100 were subsequently reacquired. What is the number of shares outstanding? a.38,900 b.6,100 c.51,100 d.45,000

The charter of a corporation provides for the issuance of 120,000 shares of common stock. Assume that 45,000 shares were originally issued and 6,100 were subsequently reacquired. What is the number of shares outstanding? a.38,900 b.6,100 c.51,100 d.45,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: The charter of a corporation provides for the issuance of 103,000 shares of common stock. Assume…

A: Share can be issued upto charter of a corporation provides. reacquired shares are those shares which…

Q: he manner of voting in the election of the Board of Directors in a stock corporation may be done…

A: Straight voting shows the statutory voting for the meeting of the company. It s used to elect…

Q: The charter of a corporation provides for the issuance of 100,000 shares of common stock. Assume…

A: Number of shares outstanding = Shares issued - Shares reacquired

Q: The following information is available for Peterson Corp: 3/1/X2 The company was formed and was…

A: Shareholder's equity is the fund which the company generates and accumulates for its shareholders…

Q: Current Attempt in Progress Crane Corporation issued 530 shares of $100 par value preferred stock…

A: In this transaction, Crane Corporation is issuing preferred stock. Therefore, the accounts involved…

Q: The charter of a corporation provides for the issuance of 100,000 shares of common stock. Assume…

A: The number of authorized shares of a corporation is the maximum number of shares that a corporation…

Q: A corporation issues 7 500 shares of capital share as a dividend in an effort to reduce retained…

A: Dividend: Dividend is the return to the shareholders for their investment in the company. It is…

Q: Outstanding shares are the

A: Outstanding shares are the shares that the traded in the market. It is important to note that these…

Q: he following data was reported by Saturday Corporation: Authorized shares: 30,000 Issued shares:…

A: Authorized shares are the number of shares that a company is legally allowed to issue.

Q: What is the number of shares outstanding?

A: Answer - c.44,000

Q: Question Content Area The charter of a corporation provides for the issuance of 103,000 shares of…

A: The objective of the question is to calculate the total amount of cash dividends to be paid by the…

Q: If ABC Corp. has 120,000 shares of common stock authorized, has 75,000 shares of common stock issued…

A: Common stock is a type of security that represents ownership in a corporation. When a company issues…

Q: The charter of a corporation provides for the issuance of 111,000 shares of common stock. Assume…

A: Common stock: These are the ordinary shares that a corporation issues to the investors in order to…

Q: A corporation is authorized to issue 60,000 shares of $30 common stock, the corporation should…

A: Authorized capital is the maximum number of shares that a company can issue. Paid-in capital is the…

Q: The corporate charter of Metlock, Corporation allows the issuance of a maximum of 100,000 shares of…

A: Authorized shares are the maximum number of shares a company is authorized to issue. Issued shares…

Q: Question Content Area The charter of a corporation provides for the issuance of 87,000 shares of…

A: The objective of this question is to calculate the total amount of cash dividends to be paid by a…

Q: A corporation issued shares with par value of P 200.00, subsequently, the corporation purchased the…

A: Stock Certificate: One kind of stock certificate is a piece of paper that physically symbolises a…

Q: nkt.4

A: The objective of this question is to calculate the total amount of cash dividends to be paid by the…

Q: The charter of a corporation provides for the issuance of 100,000 shares of common stock. Assume…

A: Number of shares issued = No. of shares issued - No. of shares reaquired

Q: A corporation issues 6,000 shares of $1 par value stock for a parcel of land valued at $12,000.…

A: A Journal is made to record all the business transactions in chronological order. It is the first…

Q: The number of outstanding shares is:

A: Treasury stock represents the repurchase of the own share by the company. It reduces the outstanding…

Q: Treasury shares represent the ______________________ a. Number of previously issued shares that…

A: A company issues shares in the open market. If it feels that the price of its share in the market…

Q: None

A: Here is the explanation for the answer:GivenShares Issued: 45,000 sharesShares Reacquired (Treasury…

Q: procedures (descriptive) that you would apply to the retained earnings account (10%) 2. briefly…

Q: The charter of a corporation provides for the issuance of 90,000 shares of common stock. Assume that…

A: DECLARATION OF DIVIDENDSDividend is the amount paid by the Corporation its shareholders in return…

Q: What is the number of shares outstanding?

A: Common stock: These are the ordinary shares that a corporation issues to the investors in order to…

Q: How many shares of stock are still unissued? How many shares are subscribed? How many shares are…

A: Unissued shares of stock are part of authorized capital that is not issued by the company.

Q: Question: Wave Corp., A private corporation, received its articles of incorporation on January 3,…

A: Journal Entries -Journal Entries are the record of the transactions entered into by the…

Q: The articles of incorporation provide for the issuance of 100,000 ordinary shares capital. Assume…

A: No. of shares outstanding : No. of shares outstanding are calculated by substracting the shares…

Q: A corporation has 49,000 shares of $27 par value stock outstanding. If the corporation issues a…

A: Number of shares outstanding after split off = Number of shares outstanding before split off x…

Q: Jan. 11 Number of shares authorized 200,000 Feb.14 Number of shares issued 130,000 Number of shares…

A: Particulars No. of shares No. of shares issued 130000 No. of shares retired (1500)…

Q: 3. Authorized shares represent the a.number of shares that have been sold. b.number of shares that…

A: Stocks: Stocks are shares in ownership of other companies. It represents the capital raised by a…

Q: The charter of a corporation provides for the issuance of 100,000 shares of common stock. Assume…

A: Step 1:Outstanding shares are the shares which are currently hold by the shareholders. These are the…

Q: A corporation has 45,000 shares of $23 par value stock outstanding. If the corporation issues a…

A: Stock split means when one share of the company will split or break into more number of shares. 3…

Q: provides for the issuance of 115,018 shares of common stock. Assume that 35,485 shares were…

A: A cash dividend is a payment made by a company to its stockholders in the form of periodic…

Q: The charter of a corporation provides for the issuance of 119,000 shares of common stock. Assume…

A: Outstanding shares:-Outstanding shares are those shares that are held by investors…

Q: The charter of a corporation provides for the issuance of 109,000 shares of common stock. Assume…

A: Given, Shares issued = 55,000 Shares reacquired = 12,900

Q: Issued shares are the number of O authorized shares that have been sold. O shares a corporation is…

A: Shares are those instruments which are issued by the company to raise money from the public. This is…

Q: nkt.3

A: The objective of the question is to calculate the total amount of cash dividends to be paid by the…

Q: The charter of a corporation provides for the issuance of 138,000 shares of common stock. Assume…

A: Common stock: These are the shares issued by a company to an outsider. These shares entitle a share…

Q: Question Content Area The charter of a corporation provides for the issuance of 110,854 shares of…

A: DECLARATION OF DIVIDENDSDividend is the amount paid by the Corporation its shareholders in return…

Q: What is the number of shares outstanding?

A: Share Outstanding: = Issued shares- reacquired shares. Even if charter provides for 136,000 shares…

Q: How much is the authorized share capital? How much is the issued share capital? How many shares of…

A: The authorized share capital is the maximum amount of share capital that the company is authorized…

Q: Provide solution

A: Step 1: Introduction to the Shares OutstandingShares outstanding refer to those shares that were…

Q: 1. Stonehurst Corporation is authorized to issue 100,000 shares of $5 par value common stock and…

A: Stockholder's Equity includes issuance of common stock, Preferred stock. Any amount collected over…

Q: Question 3 (Statement of shareholders’ equity): Below is the statement of shareholder’s equity of…

A: Number of ordinary shares Ordinary shares on Dec 31, 2022 6000 Add: shares issued 800 Add:…

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

a.38,900

b.6,100

c.51,100

d.45,000

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

Need answer
A corporation has the following account balances: Common Stock. $1 par value, $80000; Paid-in Capital in Excess of Par Value, $2710000. Based on this information, the O average price per share issued is $3.49. O number of shares issued is 80000 O number of shares outstanding is 2790000. O legal capital is $2790000.
A corporation issues 4,550 shares of common stock $145,600. The stock has a stated value of $19 per share. What amount of credit to Common Stock would the journal entry to record the stock issuance include? Select the correct answer. $145,600 $59,150 $86,450 $4,550
The charter of a corporation provides for the issuance of 139,000 shares of common stock. Assume that 54,000 shares were originally issued and 13,700 were subsequently reacquired. What is the number of shares outstanding? a. 139,000 b. 54,000 c. 40,300 d. 13,700
The charter of a corporation provides for the issuance of 117,000 shares of common stock. Assume that 56,000 shares were originally issued and 13,700 were subsequently reacquired. What is the number of shares outstanding? a.56,000 b.13,700 c.42,300 d.117,000
The corporate charter of Benjo Corporation allows the issuance of a maximum of 2,500,000 shares of P1 par value common stock. During its first three years of operation, Benjo issued 1,500,000 shares at P15 per share. It later acquired 30,000 of these shares as treasury stock for P25 per share. 1. How many shares were authorized? 2. How many shares were issued? 3. How many shares are outstanding? 4. What is the balance of the Common Stock account? 5. What is the balance of the Treasury Stock account?
Dengar
The charter of a corporation provides for the issuance of 111,000 shares of common stock. Assume that 59,000 shares were originally issued and 5,100 were subsequently reacquired. What is the number of shares outstanding? Select the correct answer. 64,100 59,000 53,900 5,100
The state charter allows a corporation to issue only a certain number of shares of each class of stock. This amount of stock is called a.issued stock b.treasury stock c.authorized stock d.outstanding stock
10
H7. The charter of a corporation provides for the issuance of 147,000 shares of common stock. Assume that 55,000 shares were originally issued and 11,500 were subsequently reacquired. What is the number of shares outstanding? a. 43,500 b. 55,000 c. 147,000 d. 11,500 Please show all step by step calculation
Question Content Area The charter of a corporation provides for the issuance of 101,000 shares of common stock. Assume that 56,000 shares were originally issued and 7,000 were subsequently reacquired. What is the number of shares outstanding? a. 56,000 b. 63,000 c. 7,000 d. 49,000