Homework Answers
| No. of common shares(in millions) | |||
| a | Balance at end of 2015 | 755 | |
| Add:Changes during 2016 | 0 | ||
| Issued Stock | 755 | ||
| b | Balance at end of 2015 | 156 | |
| Add:Purchased in 2016 | 11 | ||
| Less:Shares reissued in 2016 | (9) | ||
| Treasury stock at end of 2016 | 158 | ||
| c | Shares outstanding(755-158) million | 597 | |
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The 2016 annual report for General Mills disclosed that 1 billion shares of common stock have...
The 2016 annual report for Mega Mills disclosed that 1 billion shares of common stock have...
The 2016 annual report for Mega Mills disclosed that 1 billion shares of common stock have been authorized. At the end of 2015, 810 million shares had been issued and the number of shares in treasury stock was 111 million. During 2016, the only common share transactions were that 19 million common shares were reissued from treasury and 30 million common shares were purchased and held as treasury stock. Required: Determine the number of common shares (a) issued, (b) in...
E11-1 Computing Shares Outstanding [LO 11-1 The 2013 annual report for Golden Grains disclosed that 1...
E11-1 Computing Shares Outstanding [LO 11-1 The 2013 annual report for Golden Grains disclosed that 1 billion shares of common stock have been authorized. At the end of 2012, 785 million shares had been issued and the number of shares in treasury stock was 96 million. During 2013, the only common share transactions were that 19 million common shares were reissued from treasury and 25 million common shares were purchased and held as treasury Required: Determine the number of common...
In a recent annual report, Fourth Wall Inc. (formerly Greencube) disclosed that 61,700,000 shares of common...
In a recent annual report, Fourth Wall Inc. (formerly Greencube) disclosed that 61,700,000 shares of common stock have been authorized. At the beginning of the fiscal year, a total of 35,959,092 shares had been issued and the number of shares in treasury stock was 7,341,269. During the year, 567,265 additional shares were issued, and the number of treasury shares increased by 3,119,188. Determine the number of shares outstanding at the end of the year. (Amounts to be deducted should be...
The following stock activities of Strait Corp. occurred during its first year ended December 31: January 1 Authorized 1 million shares of $1 par, common stock May 1 Issued 10,000 shared of common sock for $25/share Dec 1 Repurhcased 1000 shares of common
December 31: January 1 Authorized 1 million shares of $1 par, common stock May 1 Issued 10,000 shared of common sock for $25/share Dec 1 Repurhcased 1000 shares of common stock outstanding for $16/share Dec 15 Reissued 500 shares of treasury stock for $30/share Dec 30 Reissued 400 shares of treasury stock for $15/share
Mills Inc. has 112,300 shares of common stock authorized, 56,664 shares issued, and 9,991 shares of...
Mills Inc. has 112,300 shares of common stock authorized, 56,664 shares issued, and 9,991 shares of treasury stock. Mills declares a dividend of $1.46 per share. By declaring this dividend, retained earnings will be reduced by $
The following information pertains to JAE Corp. at January 1, 2018: Common stock, $8 par, 10,000 shares authori...
The following information pertains to JAE Corp. at January 1,
2018:
Common stock, $8 par, 10,000 shares authorized, 2,000 shares
issued and outstanding
$
16,000
Paid-in capital in excess of par, common stock
13,200
Retained earnings
60,800
JAE Corp. completed the following transactions during 2018:
Issued 850 shares of $8 par common stock for $27 per
share.
Repurchased 250 shares of its own common stock for $24 per
share.
Resold 50 shares of treasury stock for $25 per share.
Required:...
The following information pertains to JAE Corp. at January 1, 2018: Common stock, $10 par, 20,000 shares authorize...
The following information pertains to JAE Corp. at January 1, 2018: Common stock, $10 par, 20,000 shares authorized, 2,000 shares issued and outstanding Paid-in capital in excess of par, common stock Retained earnings $20,000 15,000 82,000 JAE Corp. completed the following transactions during 2018: 1. Issued 3,000 shares of $10 par common stock for $25 per share. 2. Repurchased 500 shares of its own common stock for $26 per share. 3. Resold 200 shares of treasury stock for $30 per...
Dorado Company is authorized to issue 1,000,000 shares of common stock. They issued 400,000 shares of...
Dorado Company is authorized to issue 1,000,000 shares of common stock. They issued 400,000 shares of $5 par value stock for $18 per share. They repurchased 100,000 shares at $20 per share and reissued 20,000 of the Treasury shares at $22 per share. Assuming no shares were retired, what is the number of shares outstanding? a. 300,000 shares b. Cannot be determined based on the information given c. 900,000 shares d. 380,000 shares e. 320,000 shares
On January 1, 2018, Windsor Corporation was authorized to issue 400,000 shares of common stock, par...
On January 1, 2018, Windsor Corporation was authorized to issue 400,000 shares of common stock, par value $12 per share, and 80,000 shares of 5 percent cumulative preferred stock, par value $25 per share. The preferred dividends are 2 years in arrears. Prepare Journal Entries to record the following 2018 transactions: 1. Windsor Corporation was granted a charter authorizing the issuance of 400,000 shares of common stock. 2. Issued 80,000 shares of common stock at $19 per share. 3. Issued...
The following information pertains to JAE Corp. at January 1, 2018: Common stock, $9 par, 15,000...
The following information pertains to JAE Corp. at January 1, 2018: Common stock, $9 par, 15,000 shares authorized, 3,000 shares issued and outstanding Paid-in capital in excess of par, common stock Retained earnings $ 27,000 15,800 51,100 JAE Corp. completed the following transactions during 2018: 1. Issued 900 shares of $9 par common stock for $30 per share. 2. Repurchased 160 shares of its own common stock for $27 per share. 3. Resold 50 shares of treasury stock for $28...
The 2016 annual report for Mega Mills disclosed that 1 billion shares of common stock have been authorized. At the end of 2015, 810 million shares had been issued and the number of shares in treasury stock was 111 million. During 2016, the only common share transactions were that 19 million common shares were reissued from treasury and 30 million common shares were purchased and held as treasury stock. Required: Determine the number of common shares (a) issued, (b) in...
E11-1 Computing Shares Outstanding [LO 11-1 The 2013 annual report for Golden Grains disclosed that 1 billion shares of common stock have been authorized. At the end of 2012, 785 million shares had been issued and the number of shares in treasury stock was 96 million. During 2013, the only common share transactions were that 19 million common shares were reissued from treasury and 25 million common shares were purchased and held as treasury Required: Determine the number of common...
In a recent annual report, Fourth Wall Inc. (formerly Greencube) disclosed that 61,700,000 shares of common stock have been authorized. At the beginning of the fiscal year, a total of 35,959,092 shares had been issued and the number of shares in treasury stock was 7,341,269. During the year, 567,265 additional shares were issued, and the number of treasury shares increased by 3,119,188. Determine the number of shares outstanding at the end of the year. (Amounts to be deducted should be...
Mills Inc. has 112,300 shares of common stock authorized, 56,664 shares issued, and 9,991 shares of treasury stock. Mills declares a dividend of $1.46 per share. By declaring this dividend, retained earnings will be reduced by $
The following information pertains to JAE Corp. at January 1,
2018:
Common stock, $8 par, 10,000 shares authorized, 2,000 shares
issued and outstanding
$
16,000
Paid-in capital in excess of par, common stock
13,200
Retained earnings
60,800
JAE Corp. completed the following transactions during 2018:
Issued 850 shares of $8 par common stock for $27 per
share.
Repurchased 250 shares of its own common stock for $24 per
share.
Resold 50 shares of treasury stock for $25 per share.
Required:...
The following information pertains to JAE Corp. at January 1, 2018: Common stock, $10 par, 20,000 shares authorized, 2,000 shares issued and outstanding Paid-in capital in excess of par, common stock Retained earnings $20,000 15,000 82,000 JAE Corp. completed the following transactions during 2018: 1. Issued 3,000 shares of $10 par common stock for $25 per share. 2. Repurchased 500 shares of its own common stock for $26 per share. 3. Resold 200 shares of treasury stock for $30 per...
On January 1, 2018, Windsor Corporation was authorized to issue 400,000 shares of common stock, par value $12 per share, and 80,000 shares of 5 percent cumulative preferred stock, par value $25 per share. The preferred dividends are 2 years in arrears. Prepare Journal Entries to record the following 2018 transactions: 1. Windsor Corporation was granted a charter authorizing the issuance of 400,000 shares of common stock. 2. Issued 80,000 shares of common stock at $19 per share. 3. Issued...
The following information pertains to JAE Corp. at January 1, 2018: Common stock, $9 par, 15,000 shares authorized, 3,000 shares issued and outstanding Paid-in capital in excess of par, common stock Retained earnings $ 27,000 15,800 51,100 JAE Corp. completed the following transactions during 2018: 1. Issued 900 shares of $9 par common stock for $30 per share. 2. Repurchased 160 shares of its own common stock for $27 per share. 3. Resold 50 shares of treasury stock for $28...
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