The following data is available for Blaine Corporation at December 31, 2015: $\begin{array}{ll}
\text {Common stock, par $ \$ 10 $ (authorized 30,000 shares) }&\$250,000\
\text { Treasury Stock (at cost $ \$ 15 $ per share)}&900\
\end{array}$
Based on the data, how many shares of common stock have been issued?

Question

The following data is available for Blaine Corporation at December 31, 2015: $\begin{array}{ll}
\text {Common stock, par $ \$ 10 $ (authorized 30,000 shares)  }&\$250,000\
\text { Treasury Stock (at cost $ \$ 15 $ per share)}&900\
\end{array}$
 Based on the data, how many shares of common stock have been issued?

Quizplus · Accepted Answer

The common stock has a par value of $10, and the total value of common stock issued is $250,000. Therefore, the number of shares issued is $250,000 / $10 = 25,000 shares.

The Following Data Is Available for Blaine Corporation at December