Shares of Common Stock Issued for Concord Corporation
Based on the data, how many shares of common stock are issued?
A. 23850
B. 26500
C. 23780
D. 26430
Answer:
The correct option is A. 23850.
As per the data of Concord Corporation at December 31, 2020, they have $238,500 of common stock with a par value of $10 per share and authorized 26,500 shares.
Additionally, they have treasury stock amounting to $1,050 at $15 per share cost. Based on this information, the number of shares of common stock issued is calculated as follows:
1. Common stock: $238,500 (par value $10 per share)2. Authorized shares: 26,500
3. Treasury stock: $1,050
To determine the number of shares of common stock issued, we divide the total common stock value by the par value per share:
$238,500 ÷ $10 per share = 23,850 shares
Therefore, Concord Corporation has issued 23,850 shares of common stock.