The corporate charter of Keller Corporation allows the issuance of a maximum of 100,000 shares of common stock. During its first two years of operations, Keller sold 70,000 shares to shareholders and reacquired 7,000 of these shares. After these transactions, how many shares are authorized, issued, and outstanding?

Chapter 11, Questions #7

The corporate charter of Keller allows the issuance of a maximum of 100,000 shares of common stock. During its first two years of operations, Keller sold 70,000 shares to shareholders and reacquired 7,000 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...