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On January 1, 2020, Addy Company had 110,000 shares issued and 100,000 shares outstanding. The entity had the following transactions in 2020:
March 1 - Issued 15,000 shares. June 1 - Resold 2,500 shares of treasury. September 1 Completed a 2-for-1 share split.
Problem 1: What is the number of shares outstanding on December 31, 2020?
a. 230,000b. 117,500c. 250,000d. 235,000
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