Dog TB MC Qu. 11-55 (Static) Galveston, Incorporated has 308,000 shares...Galveston, Incorporated has 308,000 shares authorized, 140,000 shares issued, and 14,000 shares of treasury stock. How many shares are outstanding?Multiple Choice434,000406.000154,000126,000

Shares are units of ownership in a firm in the context of investment and finance. When a corporation…

Answered: TB MC Qu. 11-55 (Static) Galveston,…

Cornerstones of Financial Accounting

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ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter10: Stockholder's Equity

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Help Save & Exit Submit The following data were reported by a corporation: Authorized shares 26,000 Issued shares 21,000 Treasury shares 6,500 The number of outstanding shares is: Multiple Choice 26,000.
Multiple choice: Question 1: A corporation issues 2,500 shares of common stock for P 45,000. The stock has a stated value of P10 per share. The journal entry to record the stock issuance would include a credit to Ordinary Shares fora.) P25,000b.) P20,000c.) P5,000d.) P45,000Question 2: When a corporation reacquired its own shares due to delinquency and there are no bidders, the share must be retired immediately.Select one:a.) Trueb.) FalseQuestion 3: Using the journal entry method, what is the appropriate entry when there is an issuance of share capital?a.) Debit to authorized share capitalb.) Credit to authorized share capitalc.c.) Credit to unissued share capitald.) Credit to share capitalQuestion 4: An ordinary shareholder receives the same preference and rights as a preference shareholder.-Select one:a.) Trueb.) FalseQuestion 5: Which statement below is not a reason for a corporation to buy back its own stock.a.) for supporting the market price of the stockb.) resale to…
K Michael Corporation has the following information as of December 31 of the current year: Common Stock, $1 par value (authorized 16,261 shares) Treasury Stock (2,300 shares at cost) Common Stock Outstanding (2,600 shares) Based on the information above, how many shares of common stock are issued? A. 2,300 OB. 2,600 C. 4,900 D. 16,261 $15,000
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TB MC Qu. 11-55 (Static) Galveston, Incorporated has 308,000 shares.... Galveston, Incorporated has 308,000 shares authorized, 140,000 shares issued, and 14,000 shares of treasury stock. How many shares are outstanding? Multiple Choice 434,000 406.000 154,000 126,000