The corporate charter of Earl Corporation allows the issuance of a maximum of 100,000 shares of common

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The corporate charter of Earl Corporation allows the issuance of a maximum of 100,000 shares of common stock. During its first 2 years of operation, Earl sold 70,000 shares to shareholders and reacquired 4,000 of these shares. After these transactions, how many shares are authorized, issued, and outstanding?

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
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Financial Accounting Tools for Business Decision Making

ISBN: 978-0470239803

5th Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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