Question

Stockit, Inc. issued 100,000 shares of the 1,000,000 shares it is allowed to issue. Stockit has repurchased 10,000 of its own shares. The number of shares authorized equals ______ shares.

Answer 1

Based on the number of shares that Stockit, Inc. were allowed to issue, the number of authorized shares is 1,000,000 shares.

What are authorized shares?

This refers to the maximum number of stock that a company is allowed to offer to the market/ investors.

In this case, Stockit Inc. were allowed to issue a maximum of 1,000,000 shares which means that this is the authorized share capital.

Find out more on authorized shares at https://brainly.com/question/26206078.