Question

Enscoe enterprises, incorporated (eei) has 300,000 shares authorized, 240,000 shares issued, and 50,000 shares of treasury stock. at this point, eei has $1,880,000 of assets. $170,000 liabilities, $580,000 of common stock, and $1,130,000 of retained earnings. further, assume that the market value of eei's common stock is $11 per share. required

determine the number of shares of stock that is outstanding.

Answer 1

EEI has 190,000 shares outstanding, obtained by subtracting 50,000 shares of treasury stock from the 240,000 shares issued.

Step-by-step explanation:

To determine the number of shares of stock that is outstanding for Enscoe Enterprises, Incorporated (EEI), we need to subtract the number of treasury stock shares from the number of shares issued.

EEI has 240,000 shares issued and 50,000 shares of treasury stock.

Therefore, the shares outstanding would be calculated as 240,000 shares issued minus 50,000 shares of treasury stock, which equals 190,000 shares outstanding.