Question

If Wesley Corporation has 80,000 shares of common stock authorized. 50,000 shares of common stock issued, and holds 12,000 shares of common stock as treasury stock, the total number of outstanding shares of Wesley Corporation amounts to Select one: a. 22,000 b. 26,000 c. 38,000 d. 68,000 e. 18,000

Answer 1

Answer: E. 18,000

Explanation:

Wesley Corporation has 80,000 shares of common stock authorized. This the total amount of common stock that is available for sale by the company.

Only 50,000 shares of common stock were issued and 12,000 shares of common stock as held as treasury stock.

Then the total number of outstanding shares of Wesley Corporation amounts to 80,000 - 50,000 - 12,000 = 18,000