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I can't figure out why I got the outstanding shares wrong Exercise 10-56 (Algorithmic) Accounting for Shares Waterport Sales' corporate charter authorized the firm to
I can't figure out why I got the outstanding shares wrong
Exercise 10-56 (Algorithmic) Accounting for Shares Waterport Sales' corporate charter authorized the firm to sell 800,000 shares of $10 par common stock. At the beginning of 2019, Waterport sold 244,400 shares and reacquired 1,650 of those shares. The reacquired shares were held as treasury stock. During 2019, Waterport sold an additional 16,300 shares and purchased 3,100 more treasury shares. Required: Determine the number of issued and outstanding shares at December 31, 2019. 260,700shares Issued shares Outstanding shares 256,050X sharesStep by Step Solution
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