The initial number of authorized shares specified in the company's articles of incorporation is 25,000 shares of $10 par value per share common stock. A few weeks later, the company issues 10,000 shares of this common stock for $26 in cash per share. Later, the company buys back 1,000 shares of this stock for the same $26 per share and retires these shares.

What is reported in this company's balance sheet in its Common Stock account?

Answer rating: 100% (QA)

The total par value of the authorized common stock is 25000 shares 10 per shar... View the full answer