Canton Corporation shareholders' equity section of its balance sheet as of December 31, 2009 is as follows:
The following events occurred during 2010:
$\bullet$March 3 - 5,000 shares of authorized and unissued common stock were sold for $22 per share.
$\bullet$March 16 - Declared a cash dividend of $3 per share payable May 15 to holders of record on May 5.
A. At March 31, 2010, how many more shares of stock can be issued?
B. At March 31, 2010, how many shares are issued and outstanding?

Question

Canton Corporation shareholders' equity section of its balance sheet as of December 31, 2009 is as follows:
  The following events occurred during 2010:
$\bullet$March 3 - 5,000 shares of authorized and unissued common stock were sold for $22 per share.
$\bullet$March 16 - Declared a cash dividend of $3 per share payable May 15 to holders of record on May 5.
A. At March 31, 2010, how many more shares of stock can be issued?
B. At March 31, 2010, how many shares are issued and outstanding?

Quizplus · Accepted Answer

The Answer of Canton Corporation shareholders' equity section of its balance sheet as of December 31, 2009 is as follows:
  The following events occurred during 2010:
$\bullet$March 3 - 5,000 shares of authorized and unissued common stock were sold for $22 per share.
$\bullet$March 16 - Declared a cash dividend of $3 per share payable May 15 to holders of record on May 5.
A. At March 31, 2010, how many more shares of stock can be issued?
B. At March 31, 2010, how many shares are issued and outstanding?

Canton Corporation Shareholders' Equity Section of Its Balance Sheet as of December