The 2016 annual report for General Mills disclosed that 1 billion shares of common stock have been

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The 2016 annual report for General Mills disclosed that 1 billion shares of common stock have been authorized. At the end of 2015, 755 million shares had been issued and the number of shares in treasury stock was 156 million. During 2016, the only common share transactions were that 9 million common shares were reissued from treasury and 11 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 2016.

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...
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Related Book For  answer-question

Fundamentals of Financial Accounting

ISBN: 978-1259864230

6th edition

Authors: Fred Phillips, Robert Libby, Patricia Libby

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