A company has a balance of $300,000 in its common stock account. The par-value o

Question

A company has a balance of $300,000 in its common stock account. The par-value of the common stock is $10/share. The company also has a treasury stock balance of $100,000, resulting from a one-time repurchase program when the stock was at $20/share. None of the treasury shares have been resold, and all of the treasury shares come from this one-time repurchase program. How many common shares are currently outstanding?

A) I need to know the number of common shares authorized first.
B) 5,000
C) 30,000
D) 25,000

Explanation / Answer

300,000/10 = 30,000

C) 30,000

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