How many shares of stock were authorized? How many shares of stock were issued H

Question

How many shares of stock were authorized?

How many shares of stock were issued

How many shares of stock are outstanding

What is the balance in the Common Stock account

What is the balance in the Treasury Stock account

Ihe corporai.e charter o MIK ( 4porailon allows iht: Issuance ora nlaxinum oí 6()()()()() Shares par value common stock. During the first three years of operation, Torres issued 200,000 shares at $13 per share. It later acquired 80,000 of these shares as treasury stock for $20 per share. 2

Explanation / Answer

Calculate following :

(200000*2) =400000

Authorized shares 600000 shares Issued sahes 200000 shares Outstanding shares (200000-80000)= 120000 shares Balance in the common stock account

(200000*2) =400000

Treasury stock account (80000*20)=1600000

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