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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.
Financial Statement Analysis and Preparation
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