Question

The charter of a corporation provides for the issuance of 107,000 shares of common stock. Assume that 50,000 shares were originally issued and 11,500 were subsequently reacquired. What is the number of shares outstanding?

Answer 1

Answer:

The number of shares outstanding is 38,500

Explanation:

Issued shares                   50,000

Less:treasury stock         -11,500

Shares outstanding        38,500