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Calculate how many shares of common stock are outstanding

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Q1. East Asian Imports, Inc. issued 15,000 shares of stock at a stated value of $8 per share. The total issue of stock sold for $15 per share. Journalize this transaction.

Q2. The following data is available for Santos Service Corporation at December 31, 2014: Common stock, par $10 (authorized 100,000 shares) $400,000 Treasury Stock (at cost $15 per share) $27,000. Based on the data, calculate how many shares of common stock are outstanding.

Reference no: EM132883224

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