The Following Data Is Available for Blaine Corporation at December

question 159

Multiple Choice

The following data is available for Blaine Corporation at December 31, 2015: $\begin{array}{ll}\text {Common stock, par \( \$ 10 \) (authorized 30,000 shares) }&\$250,000\\\text { Treasury Stock (at cost \( \$ 15 \) per share) }&900\\\end{array}$
Based on the data, how many shares of common stock have been issued?

• A) 30,000
• B) 25,000
• C) 29,940
• D) 24,940

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Definitions:

Financial Industry

A sector of the economy that includes businesses and institutions that provide financial services, such as banking, investment, and insurance.

Stimulus

Economic measures taken by the government to encourage growth or prevent economic slowdown, often through spending or tax cuts.

Disinflation

A reduction in the rate of inflation; a slowdown in the rate at which prices increase.

1960s

A decade of significant cultural, political, and technological change, marked by movements for civil rights, space exploration, and the emergence of counterculture.