The corporale chaver of Ace Corpormiton alows the issuance of a maximum of 4,000,000 shares...
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The corporale chaver of Ace Corpormiton alows the issuance of a maximum of 4,000,000 shares of $1 par value common stock. During is frast three years of operation, Ace issued 2,000,000 shares at 515 per share. It tater acguired 80,000 of these shares as treasury stock for 525 per shwe. Based on the above infocmafion, asswer the following questons. (a) How many shuen were authorized? (b) How many shares were issued? (c) How many shares are outstandiv? (d) What is the balance of the Common Slock account? (e) What is the bolesce of the Treasury stock account
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