Question

The following data is available for Blaine Corporation at December 31, 2018:
Common stock, par $10 (authorized 30,000 shares) $250,000
Treasury Stock (at cost $15 per share) $ 900
Based on the data, how many shares of common stock have been issued?
A. 30,000
B. 25,000
C. 29,940
D. 24,940

Answer 1

Answer:

B. 25,000

Explanation:

Given important information here is common stock, par $10 authorized, 30,000 shares and $250,000 Treasury Stock.

To calculate how many shares of common stock have been issued we have to divide the total price of common stock/par value which is as follows:  

Shares issued = 250,000/10  

25,000 shares answer  

Therefore the correct answer is 25,000 shares .