Thc. Stockholders' Equity ($ millions) Year Year Common stock, $0.50 par value Authorized-6,500,000,000 shares Issued-3,688,014,021 shares in current and prior year $1,844 $1,844 Other paid-in capital 41,098 41,202 Retained earnings 46,021 39,257 Accumulated other comprehensive loss (4,323) (2,197) 84,640 80,106 Less treasury stock, at cost: 741,052,632 shares in current year and 649,576,808 shares in prior year 36,160 30,482 Total Merck & Co., Inc. stockholders' equity $48,480 $49.624
Thc. Stockholders' Equity ($ millions) Year Year Common stock, $0.50 par value Authorized-6,500,000,000 shares Issued-3,688,014,021 shares in current and prior year $1,844 $1,844 Other paid-in capital 41,098 41,202 Retained earnings 46,021 39,257 Accumulated other comprehensive loss (4,323) (2,197) 84,640 80,106 Less treasury stock, at cost: 741,052,632 shares in current year and 649,576,808 shares in prior year 36,160 30,482 Total Merck & Co., Inc. stockholders' equity $48,480 $49.624
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
None
Transcribed Image Text:Merck & Co., Inc. Stockholders' Equity ($ millions)
Year
CUITOTTE
Year
Common stock, $0.50 par value
Authorized-6,500,000,000 shares
Issued-3,688,014,021 shares in current and prior year
$1,844 $1,844
Other paid-in capital
41,098 41,202
Retained earnings
46,021 39,257
Accumulated other comprehensive loss
(4,323) (2,197)
84,640 80,106
Less treasury stock, at cost:
741,052,632 shares in current year and 649,576,808 shares in prior year
36,160 30,482
Total Merck & Co., Inc. stockholders' equity
$48,480 $49,624
a. Explain the derivation of the $1,844 million in the common stock account. Complete the calculation of total amount of shares.
Enter share amounts in millions ($3,000,000 = $3).
Round share amounts to the nearest whole number.
3,688
✔million shares X $ 0.5
= 1,844
million
b. Using December 31, current year balances, at what average issue price were the Merck common shares issued?
Round answer to two decimal places.
$ 11.66 X
c. At what average cost was the Merck treasury stock as of December 31 of the current year?
Round answer to two decimal places.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps with 2 images
Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education