Bloom Corporation issued 40,000 shares of common stock. Bloom purchased 8000 shares and later reissued 900 shares. How many shares are issued and outstanding?

Question

Quizplus · Accepted Answer

Bloom Corporation issued 40,000 shares. The number of shares outstanding is calculated by subtracting the treasury shares (purchased shares) from the issued shares and adding any reissued shares. So, 40,000 issued, and 40,000 - 8,000 + 900 = 32,900 outstanding.

Bloom Corporation Issued 40,000 Shares of Common Stock