Travis Corporation issued 20,000 shares of common stock. Travis purchased 2,000 shares and later reissued 1,000 shares. How many shares are issued and outstanding?

Question

Quizplus · Accepted Answer

The total number of shares issued is 20,000.

Travis repurchased 2,000 shares, leaving 18,000 outstanding.

When Travis reissued 1,000 shares, the number of outstanding shares increased to 19,000.

Therefore, the number of shares issued is still 20,000, but the number of outstanding shares is now 19,000.

Travis Corporation Issued 20,000 Shares of Common Stock