When it began operations in 2009, Nyob Corp. issued 250,000 shares of common stock. During 2010, Nyob issued an additional 150,000 shares of common stock and purchased 50,000 of its common stock and held it in treasury. The company is authorized to issue 500,000 shares. How many shares of Nyob's common stock were outstanding at the end of 2010?

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Quizplus · Accepted Answer

Nyob Corp. initially issued 250,000 shares, then issued an additional 150,000 shares, making a total of 400,000 shares issued. They then purchased 50,000 shares as treasury stock, which reduces the number of outstanding shares. Therefore, the outstanding shares at the end of 2010 are 400,000 - 50,000 = 350,000 shares.

When It Began Operations in 2009, Nyob Corp