Gertrudis Corporation Has $10 Par Value Common Stock with 1,000,000

question 117

Multiple Choice

Gertrudis Corporation has $10 par value Common Stock with 1,000,000 shares authorized, and a value of $7,000,000 before purchasing 3,000 shares of common stock. The resulting number of common shares issued and outstanding is:

• A)750,000 shares issued and 697,000 shares outstanding.
• B)700,000 shares issued and 697,000 shares outstanding.
• C)750,000 shares issued and 747,000 shares outstanding.
• D)700,000 shares issued and 747,000 shares outstanding.

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