The annual report for General Mills disclosed that 1 billion shares of common stock have been authorized. At the beginning of 2017, 755 million shares had been issued and the number of shares in treasury stock was 178 million. During 2017, the only common share transactions were that 11 million common shares were reissued from treasury and 27 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 2017. (Enter your answers in millions.) (a) Issued Stock (b) Treasury Stock (c) Shares Outstanding Number of Common Shares (in millions) 194

The stockholders’ equity accounts of Flint Corporation on January 1, 2017, were as follows. Preferred Stock (8%, $100 par noncumulative, 4,950 shares authorized)   $297,000 Common Stock ($4 stated value, 321,000 shares authorized)   1,070,000 Paid-in Capital in Excess of Par Value—Preferred Stock   14,850 Paid-in Capital in Excess of Stated Value—Common Stock   513,600 Retained Earnings   686,500 Treasury Stock (4,950 common shares)   39,600 During 2017, the corporation had the following transactions and events pertaining to its stockholders’ equity. Feb. 1   Issued 4,950 shares of common stock for $29,700. Mar. 20   Purchased 1,400 additional shares of common treasury stock at $7 per share. Oct. 1   Declared a 8% cash dividend on preferred stock, payable November 1. Nov. 1   Paid the dividend declared on October 1. Dec. 1   Declared a $0.60 per share cash dividend to common stockholders of record on December 15, payable December 31, 2017. Dec. 31…

Chauncey Corporation began business on June 30, 2016. At that time, it issued 20,000 shares of $50 par value, six percent, cumulative preferred stock and 90,000 shares of $10 par value common stock. Through the end of 2018, there had been no change in the number of preferred and common shares outstanding. Assume that Chauncey declared dividends of $0 in 2016, $120,000 in 2017, and $186,000 in 2018. Calculate the total dividends and the dividends per share paid to each class of stock in 2016, 2017, and 2018. Round to two decimal places.

Glen Tay Inc. had issued 24,000 shares of its no-par common shares on April 1, 2017 for property with an appraisal value of $320,000. The common shares of the company were being traded at $13.15 each on that day.   What is the journal entry required to record the issuance of the shares? Select one: a. DR Common Shares Receivable, $320,000; CR Common Share Capital, $315,600; CR Gain On Issue Of Shares, $4,400. b. DR Common Shares Receivable, $320,000; CR Common Share Capital, $315,600; CR Contributed Surplus - Common Shares, $4,400. c. DR Property, $320,000; CR Common Share Capital, $315,600; CR Retained Earnings -Issue Of Shares, $4,400. d. DR Property, $320,000; CR Common Share Capital, $315,600; CR Gain On Issue Of Shares, $4,400. e. None of the above entries.

Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31, 2016, were as follows: Record on journal page 10: Jan. 3 Issued 15,000 shares of $20 par common stock at $30, receiving cash. Feb. 15 Issued 4,000 shares of $80 par preferred 5% stock at $100, receiving cash. May 1 Issued $500,000 of 10-year, 5% bonds at 104, with interest payable semiannually.   16 Declared a dividend of $0.50 per share on common stock and $1.00 per share on preferred stock. On the date of record, 100,000 shares of common stock were outstanding, no treasury shares were held, and 20,000 shares of preferred stock were outstanding. Journalize this transaction as a single entry.   26 Paid the cash dividends declared on May 16. Jun. 1 Purchased 7,500 shares of Solstice Corp. at $40 per share, plus a $150 brokerage commission. The investment is classified as an available-for-sale investment.   8 Purchased 8,000 shares of treasury common stock at $33 per share.…

Blue Corporation had 306,000 shares of common stock outstanding on January 1, 2025. On May 1, Blue issued 33,000 shares. (a) Compute the weighted-average number of shares outstanding if the 33,000 shares were issued for cash. Weighted-average number of shares outstanding I (b) Compute the weighted-average number of shares outstanding if the 33,000 shares were issued in a stock dividend. Weighted-average number of shares outstanding

Check my work The annual report for Mega Mills disclosed that 1 billion shares of common stock have been authorized. At the beginning of 2017, 785 million shares had been issued and the number of shares in treasury stock was 96 million. During 2017, 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 stock. Required: Determine the number of common shares (a) issued, (b) in treasury, and (c) outstanding at the end of 2017. (Enter your answers in millions.) Number of Common Shares (in millions) |(a) Issued Stock |(b) Treasury Stock |(c) Shares Outstanding

JKL Corp. reported the following amounts in the shareholders' equity section of its December 31, 2015, statement of financial position:   Preference shares, P10 par (100,000 shares authorized, 40,000 shares issued)                                                                                                                                                           P400,000 Ordinary shares, P5 par (50,000 shares authorized, 20,000 shares issued)                                    100,000 Share premium – Ordinary shares                                                                                                                   192,000Accumulated profits                                                                                                                                     1,200,000                                                                                                       The following transactions occurred during 2016:   At the beginning of 2016, the company…