ACC help pls?
The charter of Vista West Corporation specifies that it is authorized to issue 300,000 shares of common stock. Since the company was incorporated, it has sold a total of 160,000 shares (at $16 per share) to the public. It has bought back a total of 25,000. The par value of the stock is $3. When the stock was bought back from the public, the market price was $40. Determine the outstanding shares.
Trick question the value of the shares has nothing to do with the number of outstanding shares. There were 160,000 shares sold and 25,000 bought back that leaves 135,000 shares outstanding.
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