Team Shirts had 25,000 shares of $1.00 par value common stock outstanding.It bought back 500 shares for $15.50 in the stock market to use for employee bonuses.On December 10,Team Shirts gave 250 shares to its employees as holiday bonuses.On December 31:
1.How many shares are outstanding?
2.How many shares are still held as treasury stock?

Question

Quizplus · Accepted Answer

The Answer of Team Shirts had 25,000 shares of $1.00 par value common stock outstanding.It bought back 500 shares for $15.50 in the stock market to use for employee bonuses.On December 10,Team Shirts gave 250 shares to its employees as holiday bonuses.On December 31:
1.How many shares are outstanding?
2.How many shares are still held as treasury stock?

Team Shirts Had 25,000 Shares of $1