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  3. outstanding stock represents the: o number of shar

Outstanding stock represents the: O Number of shares that are currently held by stockholders. 0...

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Accounting

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Outstanding stock represents the: O Number of shares that are currently held by stockholders. 0 Number of shares that have been sold. Number of shares that have been repurchased by the corporation. O Maximum number of shares that can be issued. Question 7 2.5 pts Dusty Corporation began business on January 1, 2020. The corporate charter authorizes issuance of 100,000 shares of .01 par value common stock and 15,000 shares of $1 par value, 10% cumulative preferred stock. On July 1, 2020, Dusty issued 30,000 shares of common stock in exchange for three years of rent on a retail location. The cash rental price is $4,200 per month and the rental period begins July 1. How should Dusty adjust its financial statement for the issuance of the shares on July 1? O Increase cash by $151,200, and increase prepaid rent by $151,200. O Increase prepaid rent by $151,200, and increase common stock by $151,200. O Increase prepaid rent by $151,200, increase common stock by $300, and increase additional paid-in capital by $150.900 Increase prepaid rent by $151,200, increase common stock by $150,900, and increase additional paid-in capital by $300

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