Aslo Corporation has 10,000,000,$1 par shares of common stock authorized.A total of 6,000,000 shares have been sold to stockholders in 2001 and in 2008 Aslo purchased 50,000 of its own stock.Then in 2010 5,000 shares of the treasury shares were sold.As of the end of 2010 how many shares are issued and outstanding? Issued Outstanding

Question

Quizplus · Accepted Answer

Issued shares remain at 6,000,000 because buying back or selling treasury stock does not change the number of issued shares. Outstanding shares are 6,000,000 - 50,000 + 5,000 = 5,955,000, reflecting the net effect of treasury stock transactions.

Aslo Corporation Has 10,000,000,$1 Par Shares of Common Stock Authorized