Accounting for Shares Waterport Sales' corporate charter authorized the firm to sell 800,000 shares of $10 par common stock. Waterport sold 252,400 shares and reacquired 1,650 of those shares. The reacquired shares were held as treasury stock. Later Waterport sold an additional 16,300 shares and purchased 3,100 more treasury shares. Required: Determine the number of issued and outstanding shares. 257,150 X shares 252,400 X shares Issued shares Outstanding shares Feedback Check My Work The corporate charter prescribes the different classes of stock that may be used to raise capital. Information about how many shares of each class are authorized, issued and outstanding is disclosed in the financial statements. Issued shares are reduced by treasury shares to determine the number of shares outstanding Check My Work 2 more Check My Work uses remaining. Previous Next

Accounting for Shares Woterport Sales' corpopate charter authorited the firm to sell 600,000 shares of $10 par common stocki Waterport sold 252,400 shares and reaceuired 1,650 of those shares. The reacquired shares were held as treasury stock. Later Woterport sold an addeional 16,300 shares and purchased 3,100 more treasury shares. Required: Determine the fumber of issued and eutstanding shares: tssued shares x-shares Outstanding shures x shares FChed Uy Wot is disdosed in the francisi statements lisued ehares wre reduced by treasury shaves 10 detemine tee number of shares ovtstanding