The annual report for Jackson Farms disclosed that 1 billion shares of common stock have been authorized. At the beginning of 2017, 810 million shares had been issued and the number of shares in treasury stock was 111 million. During 2017, the only common share transactions were that 19 million common shares were reissued from treasury and 30 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)
The annual report for Jackson Farms disclosed that 1 billion shares of common stock have been authorized. At the beginning of 2017, 810 million shares had been issued and the number of shares in treasury stock was 111 million. During 2017, the only common share transactions were that 19 million common shares were reissued from treasury and 30 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)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The annual report for Jackson Farms disclosed that 1 billion shares of common stock have been authorized. At the beginning of 2017,
810 million shares had been issued and the number of shares in treasury stock was 111 million. During 2017, the only common share
transactions were that 19 million common shares were reissued from treasury and 30 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)
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