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**** Corporation had the following share amounts of common stock at year-end: Authorized Shares 100,000 shares Issued Shares 55,000 shares Treasury Stock 7,000 shares Calculate
**** Corporation had the following share amounts of common stock at year-end:
Authorized Shares 100,000 shares
Issued Shares 55,000 shares
Treasury Stock 7,000 shares
Calculate the following amounts at year-end (clearly labeling each amount and how you calculated it):
- The number of Outstanding Shares _______
- The maximum shares the corporation may issue ___________
- The dollar amount of the Common Stock account assuming the market value at year-end and the par value is $10.
Suggested answer format:
- Outstanding Share number = _____________
- Maximum Share number = ____________
- Balance in Common Stock account = $__________________
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