Question

The following data has been collected about Keller Company's stockholders' equity accounts: Common stock $10 par value 21,000 shares authorized and 10,500 shares issued, 1,100 shares outstanding $105,000 Paid-in capital in excess of par value, common stock 51,000 Retained earnings 26,000 Treasury stock 12,760 Assuming the treasury shares were all purchased at the same price, the number of shares of treasury stock is:

Answer 1

9,400 shares

Step-by-step explanation:

Treasury stock is the difference between issued shares and outstanding shares.

Number of treasure shares = Number of issued shares - Number of outstanding shares

Number of treasure shares = 10,500 - 1,100

Number of treasure shares = 9,400 shares

Therefore, number of treasury shares is 9,400