The following data is available for BOX Corporation at December 31, 2014: $\begin{array}{lr}
\text {Common stock, par $ \$ 10 $ (authorized 30,000 shares) }&\$250,000\
\text { Treasury stock (at cost $ \$ 15 $ per share)}&\$1,200\
\end{array}$
Based on the data, how many shares of common stock are outstanding?
A) 30,000.
B) 25,000.
C) 29,920.
D) 24,920.

Question

The following data is available for BOX Corporation at December 31, 2014: $\begin{array}{lr}
\text {Common stock, par $ \$ 10 $ (authorized 30,000 shares)  }&\$250,000\
\text { Treasury stock (at cost $ \$ 15 $ per share)}&\$1,200\
\end{array}$
 Based on the data, how many shares of common stock are outstanding?
A) 30,000.
B) 25,000.
C) 29,920.
D) 24,920.

Quizplus · Accepted Answer

The common stock value of $250,000 at a par value of $10 per share indicates 25,000 shares issued. The treasury stock cost of $1,200 at $15 per share indicates 80 shares are held in treasury. Therefore, the outstanding shares are 25,000 - 80 = 24,920.

The Following Data Is Available for BOX Corporation at December