Company P had 300,000 shares of common stock outstanding.It owned 80% of the outstanding common stock of S.S owned 20,000 shares of P common stock.In the consolidated balance sheet, Company P's outstanding common stock may be shown as
A)285,000 shares.
B)300,000 shares.
C)300,000 shares, less 20,000 shares of treasury stock.
D)300,000 shares, footnoted to indicate that S holds 20,000 shares.

Question

Company P had 300,000 shares of common stock outstanding.It owned 80% of the outstanding common stock of S.S owned 20,000 shares of P common stock.In the consolidated balance sheet, Company P's outstanding common stock may be shown as
A)​285,000 shares.
B)​300,000 shares.
C)​300,000 shares, less 20,000 shares of treasury stock.
D)​300,000 shares, footnoted to indicate that S holds 20,000 shares.

Quizplus · Accepted Answer

The Answer of Company P had 300,000 shares of common stock outstanding.It owned 80% of the outstanding common stock of S.S owned 20,000 shares of P common stock.In the consolidated balance sheet, Company P's outstanding common stock may be shown as
A)​285,000 shares.
B)​300,000 shares.
C)​300,000 shares, less 20,000 shares of treasury stock.
D)​300,000 shares, footnoted to indicate that S holds 20,000 shares.

Company P Had 300,000 Shares of Common Stock Outstanding