E11-2 Computing Number of Shares LO11-1, 11-3 The following information applies

Question

E11-2 Computing Number of Shares LO11-1, 11-3 The following information applies to the questions displayed below The charter of Vista West Corporation specifies that it is authorized to issue 208,000 shares of common stock. Since the company was incorporated, it has sold a total of 140,000 shares (at $16 per share) to the publi It has bought back a total of 16,000. The par value of the stock is $5. When the stock was bought back from the public, the market price was $28. References Section Break E11-2 Computing Number of Shares LO11-1, 11-3 10. 1000 points Required information E11-2 Part 1 Required: 1. Determine the authorized shares. shares

Explanation / Answer

Answer 1

Authorized Shares = 208,000 shares

Answer 2

Issued Shares = 140,000 shares

Answer 3

Outstanding Shares = Issued Shares - Shares bought back = 140,000 shares  - 16,000 shares = 124,000 shares

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