(Answered) Question -abc inc shareholders equity paid-in capitalcommon

Accounting

Question -

ABC, Inc. Shareholders' Equity Paid-in capital:

Common stock, 500,000 shares at $1.00 par $500,000

Paid-in capital in excess of par 600,000

Less: Treasury stock, 100,000 shares at cost (100,000)

Total shareholders' equity $1,000,000

What are the number of shares issued and outstanding (this is not asking about the number of shares issued)?

a. This cannot be determined from the information given.

b. 100,000

c. 500,000

d. 400,000

e. None of the other choices are correct.

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