Assume the following information for Petra Sales,Inc.:
• Common Stock,$1.00 par,202,000 shares issued,180,000 shares outstanding
• Paid-In Capital in Excess of Par-Common: $1,690,000
• Retained Earnings: $2,490,000
• Treasury Stock: 30,000 shares purchased at $13 per share
If Petra Sales purchases an additional 7,000 shares of treasury stock at $15 per share,what number of shares will be shown as issued and outstanding?

Question

Quizplus · Accepted Answer

C)Total no.of shares outstanding = 180,000 - 7,000 = 173,000 shares

Assume the Following Information for Petra Sales,Inc