RKJ Company Has Provided the Following

question 94

Multiple Choice

RKJ Company has provided the following:
100,000 shares of $5 par value common stock are authorized;
70,000 shares have been issued;
65,000 shares are outstanding.
Which of the following statements is correct?

• A)RKJ has 35,000 shares of treasury stock.
• B)RKJ has 30,000 shares of treasury stock.
• C)RKJ can reissue an additional 35,000 shares of common stock.
• D)RKJ can issue an additional 30,000 shares of common stock.

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