3. 153 points value: E1-1 Computing Shares Outstanding LO 11-1 The 2013 annual r

Question

3. 153 points value: E1-1 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, 740 million shares had been issued and the number of shares in treasury stock was 105 million. During 2013, the only common share transactions were that 14 million common shares were reissued from treasury and 20 million common shares were purchased and held as treasury stock Required: Defermine the number of common shares (e) issued. (b in treasury, and (c) outstanding at the end of 2013. (Enter your answers in millions.) Number of Commor Shares (in millions) (a) Issued Stock (b) Treasury Stock (c) Shares Outstanding

Explanation / Answer

Solution:

Issued Stock: 740

Treasury Stock: 111

Shares Outstanding: 629

Working:

Part-1)

(in million)

Balance at End of 2012 740

Changes During 2013 0

Balance at End of 2013 740

PART-2)

Balance at End of 2012 105

Purchased in 2013 20

Shares Reissued in 2013 -14

Balance at End of 2013 111

PART-3)

Issued Stock 740

Treasury Stock -111

Balance at End of 2013 629

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