Question

The charter of a corporation provides for the issuance of 112,000 shares of common stock. Assume that 54,000 shares were originally issued and 13,500 were subsequently reacquired. What is the number of shares outstanding

Answer 1

40,500 shares

Step-by-step explanation:

Calculation for the number of shares outstanding

Using this formula

Number of shares outstanding=Originally issued -Reacquired shares

Let plug in the formula

Number of shares outstanding=54,000 shares-13,500 shares

Number of shares outstanding=40,500 shares

Therefore the number of shares outstanding will be 40,500 shares