Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

E11-1 Computing Shares Outstanding [LO 11-1 The 2013 annual report for Golden Grains disclosed that 1 billion shares of common stock have beern authorized. At

image text in transcribed

E11-1 Computing Shares Outstanding [LO 11-1 The 2013 annual report for Golden Grains disclosed that 1 billion shares of common stock have beern authorized. At the end of 2012, 790 million shares had been issued and the number of shares in treasury stock was 107 million. During 2013, the only common share transactions were that 15 million common shares were reissued from treasury and 26 million common shares were purchased and held as treasury stock. Required: Determine the number of common shares (a) issued, (b) in treasury, and (c) outstanding at the end of 2013. (Enter your answers in millions.) Number of Common Shares (in millions) (a) Issued Stock (b) Treasury Stock (c) Shares Outstanding

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Audit And Accounting Guide State And Local Governments

Authors: AICPA

1st Edition

1945498587, 978-1945498589

More Books

Students also viewed these Accounting questions