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Issued and outstanding after these events are recorded

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Reference no: EM132204068

McClendon Corporation has authorized 20,000 shares of $10 par value common stock. The following events occurred during the year.

1. Issued 8,000 shares of the common stock for $12 per share.

2. Purchased back 1,000 shares if the common stock for $14 per share.

3. Reissued 300 of the 1,000 shares (from event 2) at a price of $15 per share.

How many shares of common stock will McClendon Corporation show as issued and outstanding after these events are recorded?

a.8,000 shares issued; 7,300 shares outstanding

b.8,000 shares issued; 8,000 shares outstanding

c.7,300 shares issued; 7,300 shares outstanding

d.7,300 shares issued; 8,000 shares outstanding

Reference no: EM132204068

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