4.
Outstanding shares of stock are those shares which a corporation has the ability to issue as
documented in its charter in the state where incorporated.
True
False
6.
CGJ Company has provided the following: • 200,000 shares of $5 par value common...
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4.
Outstanding shares of stock are those shares which a corporation has the ability to issue as
documented in its charter in the state where incorporated.
True
False
6.
CGJ Company has provided the following: • 200,000 shares of $5 par value common stock are
authorized;• 140,000 shares of common stock were issued for $11 per share;• 130,000 shares are
outstanding. Which of the following statements is false?
Common stock is reported at $700,000 on the balance sheet.
Additional-paid in capital is reported at $840,000 on the balance sheet.
There are 10,000 shares of treasury stock.
Stockholders' equity decreased $110,000 when the treasury stock was
purchased.
15.
RKJ Company has provided the following:
• 100,000 shares of $5 par value common stock are authorized;
• 60,000 shares have been issued;
• 55,000 shares are outstanding.
Which of the following statements is correct?
RKJ can issue an additional 40,000 shares of common stock.
RKJ can reissue an additional 45,000
Less
