Problem:
The following data is available for BOX Corporation at December 31, 2012:
Common stock, par $10 (authorized 15,000 shares) account balance = $100,000
Treasury Stock (at cost $15 per share) account balance = $ 600
Based on the data, how many shares of common stock are outstanding as of December 31, 2012?
- 9,960 shares
- 14,960 shares
- 15,000 shares
- 10,000 shares
Note: Explain all calculation and formulas.