The following data has been collected about Keller Company's stockholders' equity accounts: Assuming the treasury shares were all purchased at the same price,the number of shares of treasury stock is:
A)1,150.
B)1,000.
C)575.
D)11,000.
E)21,000.

Question

The following data has been collected about Keller Company's stockholders' equity accounts:  Assuming the treasury shares were all purchased at the same price,the number of shares of treasury stock is:
A)1,150. 
B)1,000. 
C)575. 
D)11,000. 
E)21,000.

Quizplus · Accepted Answer

The treasury stock account has a balance of $50,000 and the cost per share is $50. Therefore, the number of shares of treasury stock is 50,000/50 = 1,000.

The Following Data Has Been Collected About Keller Company's Stockholders