Question

Petite Fashions issued 500,000 of its 2 million shares of authorized common stock. At the end of the accounting period, 450,000 shares are outstanding. How many shares of treasury stock does Petite Fashions have?

Answer 1

Answer:

Treasury shares = $50,000

Explanation:

given data

share issued = $500,000

authorized common stock = 2 million

Shares outstanding = $450000

to find out

How many shares of treasury stock

solution

we get here Treasury shares that is express as

Treasury shares = Shares issued - Shares outstanding   ....................1

put here value we get

Treasury shares = $500000 - $450000        

Treasury shares = $50,000