Gleason Corporation has authorized 40,000 shares of $10 par value common stock.

Question

Gleason Corporation has authorized 40,000 shares of $10 par value common stock. The following events occurred during the year.

How many shares of common stock will Gleason Corporation show as issued and outstanding after these events are recorded?

A. 16,000 shares issued; 16,000 shares outstanding

B. 16,000 shares issued; 14,600 shares outstanding

C. 14,600 shares issued; 14,600 shares outstanding

D. 14,600 shares issued; 16,000 shares outstanding

Gleason Corporation has authorized 40,000 shares of $10 par value common stock. The following events occurred during the year.

Explanation / Answer

16,000 shares issued; 14,600 shares outstanding Option B is correct

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