Question

I just need someone to explain this

Prepare a classified balance sheet for Sandpiper Corporation as of December 31, 2019 using columns 2 and 3 of the accounting paper supplied. Parenthetically show common shares authorized, issued, and outstanding. Use pencil only, place the units, tens, hundreds, thousands, etc. in the proper mini column, and leave the pennies blank. No commas are necessary when you use the accounting paper properly. Dollars signs used at the top of the column and after a total line. Use columns 2 for detail and column 3 for netting, totals, and grand totals. Leave column 1 and 4 blank. This balance sheet balances with these numbers. Bracketed notes are for the preparer and parathetical notes are for the reader of the financials.

Accounts Payable 13,580 $

Accounts Receivable 47,280

Accumulated Depreciation 15,740

Allowance for Doubtful Accounts 1,595

Bonds Payable 11,000

Cash and Cash Equivalents 33,475

Common Stock at par $2 (authorized 100,000 shares, issued xxxxx shares, and XXXX outstanding) 120,000

Current Portion of Long-Term Debt 8,560

Discounts on Bonds Payable 1,850

Intangilbles - Net 37,080

Long-Term Debt Payable [not including current portion] 40,250

Long-Term Investment in Equity Securities 86,500

Merchandise Inventory (FIFO, Lower of Cost or Market) 48,790

Paid in Capital in Excess of Par - Common 20,360

Prepaid expenses 4,820 Property,

Plant, and Equipment 140,760

Retained Earnings [12/31/2019 after closing entries] 180,820

Trading Securities [current] 9,240 Treasury Stock - Common (900 shares) 3,680

Unearned Revenues 1,570

You must calculate Issued and outstanding shares

Answer 1

Solution :-

Issued Shares	60,000
Less :-Treasury Shares	-900
Outstanding Shares	59,100

1. Authorized Share is the number of share that a organization is legally allowed to issue.

2. Issued Share is the number of shares that have been to the various shareholders.

3. Treasury Shares is the number of own shares acquired through buy back arrangements.

4. Outstanding Share is difference of Issued Shares Minus Treasury Shares.

Note :- In case of any query or further clarification, request you to please drop your question in comment box, rate if you find the answer useful.