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Problem Solving Survival Guide to accompany Financial Accounting, 8th Edition by Donald E. Kieso, Paul D. Kimmel, Jerry J. Weygandt

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SOLUTION TO EXERCISE 11-3

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Approach and Explanation: Write down the formula for determining the number of outstanding shares:

Issued Shares - Treasury Shares = Outstanding Shares

Fill in the data given. Authorized shares are either issued or unissued. The number of issued shares can readily be computed in this situation. Treasury shares are issued shares but are not outstanding (in the hands of shareholders).

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