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Question
Canton Corporation shareholders' equity section of its balance sheet as of December 31, 2014 is as follows:
| Common stock, $5 par value; 40,000 shares authorized | $50,000 |
| Additional paid-in capital | 100,000 |
| Retained earnings | 180,000 |
| Total | $330,000 |
The following events occurred during 2015:
March 3 - 5,000 shares of authorized and unissued common stock were sold for $22 per share.
March 16 - Declared a cash dividend of $3 per share payable May 15 to holders of record on May 5.
A. At March 31, 2015, how many more shares of stock can be issued?
B. At March 31, 2015, how many shares are issued and outstanding?
Answer
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Related questions
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