The following data is available for BOX Corporation at December 31, 2017: $\begin{array}{lr}
\text { Common stock, par $ \$ 10 $ (authorized 30,000 shares) }&\$270,000\
\text {Treasury stock (at cost $ \$ 15 $ per share) }&\$1,200\
\end{array}$
Based on the data, how many shares of common stock are issued?
A)30,000.
B)27,000.
C)29,920.
D)26,920.

Question

The following data is available for BOX Corporation at December 31, 2017: $\begin{array}{lr}
\text { Common stock, par $ \$ 10 $ (authorized 30,000 shares) }&\$270,000\
\text {Treasury stock (at cost $ \$ 15 $ per share) }&\$1,200\
\end{array}$
 Based on the data, how many shares of common stock are issued?
A)30,000.
B)27,000.
C)29,920.
D)26,920.

Quizplus · Accepted Answer

The common stock value of $270,000 at a par value of $10 per share indicates that 27,000 shares have been issued (270,000 / 10 = 27,000).

The Following Data Is Available for BOX Corporation at December