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How many shares were outstanding

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Question - CFAS Company issued 85,000 ordinary shares. Of these, 4,250 shares were held as treasury on January 1, 2022.

During the current year, the entity reported the following transactions:

Feb. 1 850 shares of treasury were sold.

May. 1 8,500 unissued shares were sold.

Dec. 15 A2-for-1 share split took effect.

Required -

1. On December 31, 2018, how many shares were issued?

2. On December 31, 2018, how many shares were outstanding?

Reference no: EM133153271

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