Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on May 31, 2024

The charter of a corporation provides for the issuance of 138,000 shares of common stock. Assume that 62,000 shares were originally issued and 11,800 were

The charter of a corporation provides for the issuance of 138,000 shares of common stock. Assume that 62,000 shares were originally issued and 11,800 were subsequently reacquired. What is the number of shares outstanding?

a.138,000

b.62,000

c.50,200

d.11,800

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting An Introduction to Concepts Methods and Uses

Authors: Michael W. Maher, Clyde P. Stickney, Roman L. Weil

11th edition

1111571260, 978-1111571269

More Books

Students also viewed these Accounting questions

Question

★★★★★

Food Enterprises is analyzing the performance of their retail business and have calculated Value At Risk at $17,350,000 under the statistical method at a 95% confidence level, and a mean of $898,000....

Answered: 1 week ago

Question

★★★★★

For what value of c is the function f(x) = { c/x2 if x 1 0 otherwise a probability density function?

Answered: 1 week ago

Question

★★★★★

On the last day of the period, Jim Otto Company buys a $900 machine on credit. This transaction will affect the: (a) income statement only. (b) balance sheet only. (c) income statement and retained...

Answered: 1 week ago

Question

★★★★★

With reference to the out-patient visits to a hospital, we consider the following events: A: a patient is over 50 years of age; B: a patient is under 25 years of age; C: the condition of a patient...

Answered: 1 week ago

Question

★★★★★

a. Why would the topic of health care feature prominently in any conversation about employee motivation? b. Does the issue of patient care make low employee morale more important for health care...

Answered: 1 week ago

Question

★★★★★

Bed & Bath, a retailing company, has two departmentsHardware and Linens. The companys most recent monthly contribution format income statement follows Bed & Bath, a retailing company, has two...

Answered: 1 week ago

Question

★★★★★

Paper purchased 12,000 of Sands 30,000 shares on 10/1/20X0 for $36,000. At 1/1/20X0, Sand had Common Stock of $30,000 and Retained Earnings of $50,000. During the 12 months ended 12/31/20X0, Sand...

Answered: 1 week ago

Question

★★★★★

Carnaby Company has five employees. The total salaries of the employees is $7,000. The company prepares the payroll entry, using a social security rate of 6%, and a Medicare rate of 1.5%. The Federal...

Answered: 1 week ago

Question

★★★★★

In order to better keep track of their inventory levels, "Leaps and Bounds" has also just switched from an inventory monitoring system that updates every quarter, to one that updates every week. This...

Answered: 1 week ago

Question

★★★★★

A trader has an existing position of 100 shares of AAPL stock at $275. She decides to purchase a 260 put option for $17 and sell a 290 strike call option for $16. Synthetically, this is equivalent to...

Answered: 1 week ago

Question

★★★★★

During the past five years, KwonCo.'s stock earned annual returns of 7 percent, 13 percent, 19 percent, 8 percent, and 15 percent. Suppose the average inflation rate over this time period was 2.6...

Answered: 1 week ago

Question

★★★★★

Zach has worked in the pizza business for ten years. He is tired of working for others and now wishes to start his own pizza restaurant. Zach created a corporation called Zach's Pizza. Wanting to...

Answered: 1 week ago

Question

★★★★★

1.When a bank customer deposits $1,000 into her checking and $1,000 into her savings and there is a reserve requirement ratio of 5%, how is this recorded in the bank's balance sheets? Group of answer...

Answered: 1 week ago

Question

★★★★★

Remaining Time: 1 hour, 21 minutes, 14 seconds. Question Completion Status: Close Window A Moving to the next question prevents changes to this answer. Question 3 of 20 Question 3 15 points Save...

Answered: 1 week ago

Question

★★★★★

Digital Fruit is financed solely by common stock and has outstanding 25 million shares with a market price of $10 a share. It now announces that it intends to issue $160 million of debt and to use...

Answered: 1 week ago

Question

★★★★★

An organization undertakes various activities in pursuit of business success. Identify an organizations three major business activities, and describe each activity. The following financial statement...

Answered: 1 week ago

Question

★★★★★

Calculate the amount of owner investments for Company X during 2013

Answered: 1 week ago

Question

★★★★★

A start-up company often engages in the following transactions in its first year of operations. Classify those transactions in one of the three major categories of an organizations business...

Answered: 1 week ago

Previous Question Next Question