Question

The following data has been collected about Keller Company's stockholders' equity accounts: Common stock $10 par value 15,000 shares authorized and 7,500 shares issued, 2,500 shares outstanding $75,000 Paid-in capital in excess of par value, common stock 45,000 Retained earnings 20,000 Treasury stock 27,250 Assuming the treasury shares were all purchased at the same price, the number of shares of treasury stock is:

Answer 1

Answer:

5,000

Explanation:

Calculation for what the number of shares of treasury stock is:

Using this formula

Number of shares of treasury stock= Shares issued - Shares outstanding

Let plug in the formula

Number of shares of treasury stock= 7,500 - 2,500

Number of shares of treasury stock= 5,000

Therefore Number of shares of treasury stock is 5,000