Question

The following data is available for Nash's Trading Post, LLC at December 31, 2017: Common stock, par $10 (authorized 25000 shares) $175000 Treasury stock (at cost $15 per share) $750 Based on the data, how many shares of common stock are outstanding

Answer 1

the number of common stock outstanding is 17,450 shares

Step-by-step explanation:

The computation of the number of common stock outstanding is as follows

= Common stock - treasury stock

= ($175,000 ÷ $10) - ($750 ÷ $15)

= 17,500 shares - 50 shares

= 17,450 shares

Hence, the number of common stock outstanding is 17,450 shares

We simply applied the above formula so that the correct value could come

And, the same is to be considered