EXERCISE 11-3
Purpose: (L.O. 2, 3) This exercise will point out the relationship between authorized, issued, outstanding, and subscribed shares.
The following data are available regarding the common stock of the Daffy Corporation at December 31, 2014:
| Authorized shares | 200,000 |
| Unissued shares | 60,000 |
| Treasury shares | 12,000 |
Instructions
Compute the number of outstanding shares.
Get Problem Solving Survival Guide to accompany Financial Accounting, 8th Edition now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
