Question

The following data is available for Wingate Corporation at December 31st, 2022:

Common stock, par $264000
$10 (authorized 33000shares)
Treasury stock (at cost $15 per share) $900

Based on the data, how many shares of common stock are issued?

a. 33000
b. 29640.
c. 26340.
d. 26400.

Answer 1

C.$26,340

Step-by-step explanation:

Calculation for how many shares of common stock are issued

Shares of common stock outstanding=($264000 ÷ 10) - ($900 ÷ $15)

Shares of common stock outstanding=$26,400-60

Shares of common stock outstanding=$26,340

Therefore the Shares of common stock outstanding is $26,340