Question
The authorized share capital of the Alfred Cake Company is 100,000 shares. The equity is currently shown in the company's books as follows: Common stock
The authorized share capital of the Alfred Cake Company is 100,000 shares. The equity is currently shown in the company's books as follows:
Common stock ($2 par value)$70,000
Additional paid-in capital20,000
Retained earnings40,000
Common equity$130,000
Treasury stock (5,000 shares)14,000
Net common equity$116,000
a.How many shares are issued?
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Financial Accounting
Authors: Jan Williams, Susan Haka, Mark S Bettner, Joseph V Carcello
16th edition
1259692396, 77862384, 978-0077862381
