A corporation may have issued more shares of stock than it has outstanding. This statement is

The number of shares a corporation has outstanding may exceed the amount of shares authorized. This statement is

The outstanding capital stock  is the portion of the capital stock issued and held by persons other than the corporation itself.Group of answer choicesTrueFalse

Shares that were previously issued to and owned by stockholders but have been reacquired and now held by the corporation are called Stock. (Enter one word per blank.)

A company reported the following stockholders’ equity on January 1 of the current year:Common stock–$10 par value, 1,000,000 shares authorized; 270,000 shares issued $ 2,700,000Paid-in capital in excess of par value, common stock 1,280,000Retained earnings 1,695,000Total stockholders’ equity $ 5,675,000Prepare journal entries for the following selected transactions.March 1  Purchased 12,000 shares of its own stock for $25 cash per share.May 5  Sold 6,000 shares of its treasury stock for $25 cash per share.October 12  Sold 4,000 shares of its treasury stock for $26 cash per share.

This is a type of Financial Statement that shows what a company owns and what it owes: