The state charter of Team Shirts authorizes the corporation to sell 300,000 shares.Team Shirts has issued 200,000 shares of stock.There are 7,500 shares of treasury stock.The number of outstanding shares is ________.

Question

Quizplus · Accepted Answer

The outstanding shares are the total shares issued minus the treasury shares. Therefore, outstanding shares = issued shares - treasury stock
⇒ outstanding shares = 200,000 - 7,500
⇒ outstanding shares = 192,500.

The State Charter of Team Shirts Authorizes the Corporation to Sell