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 issued?
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 issued?
A) 30,000.
B) 25,000.
C) 29,920.
D) 24,920.

Quizplus · Accepted Answer

The common stock value of $250,000 with a par value of $10 per share indicates that 25,000 shares have been issued (250,000 / 10 = 25,000).

The Following Data Is Available for BOX Corporation at December