King George Company was authorized to issue 50,000 ordinary shares.The company issued 22,000 shares and later purchased 5,000 shares of treasury shares.The number of outstanding ordinary shares is:

Question

Quizplus · Accepted Answer

Outstanding shares are calculated by subtracting treasury shares from issued shares: 22,000 issued shares - 5,000 treasury shares = 17,000 outstanding shares.

King George Company Was Authorized to Issue 50,000 Ordinary Shares