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Mews Corporation has the following information reported on the balance sheet as of December 31 of the current​ year: Common​ Stock, $10 par value​ (authorized 20,000​ shares) ​$60,000 Treasury Stock​ (1,000 shares) ​$30,000 Based on the information​ above, how many shares of common stock have been​ issued? A. ​7,000 B. ​1,000 C. ​5,000 D. ​6,000

User Gregg
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7.8k points

1 Answer

5 votes

Answer:

Number common stock shares issued will be 5000

So option (C) will be correct answer.

Step-by-step explanation:

We have given amount = $60000

Common stock par value = $10

Number of share issued
=(60000)/(10)=6000

Treasury stock = 1000 shares

We have to find the number common stock shares issued.

Shares of common stock outstanding = number of shares issued - treasury issued = 6000-1000 = 5000 shares

So option (C) will be correct answer

User Dimba
by
7.3k points
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