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At December 31, the records of Kozmetsky Corporation provided the following selected and incomplete data: Common stock (par $2; no changes during the current year). Shares authorized, 5,000,000. Shares issued, ? ; issue price $7 per share. Shares held as treasury stock, 11,700 shares, cost $5 per share. Net income for the current year, $400,660

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abiolataiwo2015

If the common stock account is $143,000 the shares issued is 71500 shares and shares outstanding is 59800 shares.

Shares issued and shares outstanding

Shares issued= Common stock account / par value per share

Shares issued = $143,000 / $2

Sharesd issued= 71500 shares

Shares outstanding = Shares issued - Shares in treasury

Shares outsatnding= 71500 - 11700

Shares outstanding=59,800 shares

Therefore the shares issued is 71500 shares and shares outstanding is 59800 shares.

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