Calculate the dollar amount of the common stock account

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RCC Corporation had the following share amounts of common stock at year end-

Authorized Shares - 300,000 shares

Issued Shares - 40,000 shares

Treasury Stock - 2,000 shares

Problem 1: Calculate the following amounts at year-end (clearly labeling each amount and how you calculated it):

The number of Outstanding Shares _______
The maximum shares the corporation may issued ___________
The dollar amount of the Common Stock account assuming the market value at year-end is $12 and the par value is $10.

Reference no: EM132749872

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