The charter of a corporation provides for the issuance of 117,000 shares of common stock. Assume that 48,000 shares were originally issued and 4,000 were subsequently reacquired. What is the number of shares outstanding?a.52,000b.4,000c.44,000d.48,000

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Business

Accounting

What is the number of shares outstanding?

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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Question

The charter of a corporation provides for the issuance of 117,000 shares of common stock. Assume that 48,000 shares were originally issued and 4,000 were subsequently reacquired. What is the number of shares outstanding?

a.52,000

b.4,000

c.44,000

d.48,000

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