### Shareholders’ Equity Information for Levi CorporationThe following partial information is taken from the comparative balance sheet of Levi Corporation as of December 31, 2021, and December 31, 2020.#### Shareholders’ Equity- **Common Stock, $5 Par Value:** - 20 million shares authorized - 15 million shares issued - 9 million shares outstanding at 12/31/2021 - [Blank] million shares issued and [Blank] shares outstanding at 12/31/2020 - **Value:** - $75 million as of 12/31/2021 - $45 million as of 12/31/2020- **Additional Paid-in Capital on Common Stock:** - $520 million as of 12/31/2021 - $392 million as of 12/31/2020- **Retained Earnings:** - $197 million as of 12/31/2021 - $157 million as of 12/31/2020- **Treasury Common Stock, at Cost:** - 6 million shares at 12/31/2021 - 4 million shares at 12/31/2020 - **Value:** - ($72 million) as of 12/31/2021 - ($50 million) as of 12/31/2020- **Total Shareholders’ Equity:** - $720 million as of 12/31/2021 - $544 million as of 12/31/2020#### Question:How many of Levi's common shares were outstanding on 12/31/2020?- **Multiple Choice:** - 9 millionNote: The balance sheet reflects financial data and stock information, showing growth from 2020 to 2021 in several categories including additional paid-in capital and retained earnings.

A security that denotes ownership in a business is referred to as common stock. Common stockholders…

The following partial information is taken from the comparative balance sheet of Levi Corporation: Shareholders' equity Common, stock, $5 par; 20 million shares authorized; 15 million shares issued and 9 million shares outstanding at 12/31/2021; 12/31/2021 12/31/2020 and million shares issued and shares outstanding at 12/31/2020. $ 75 million $ 45 million Additional paid-in capital on common stock Retained earnings 520 million 392 million 197 million 157 million Treasury common stock, at cost, 6 million shares at 12/31/2021 and 4 million shares at 12/31/2020 (72 million) (50 million) Total shareholders' equity $720 million $544 million How many of Levi's common shares were outstanding on 12/31/2020? Multiple Choice 9 million.

The following partial information is taken from the comparative balance sheet of Levi Corporation: Shareholders' equity Common, stock, $5 par; 20 million shares authorized; 15 million shares issued and 9 million shares outstanding at 12/31/2021; 12/31/2021 12/31/2020 and million shares issued and shares outstanding at 12/31/2020. $ 75 million $ 45 million Additional paid-in capital on common stock Retained earnings 520 million 392 million 197 million 157 million Treasury common stock, at cost, 6 million shares at 12/31/2021 and 4 million shares at 12/31/2020 (72 million) (50 million) Total shareholders' equity $720 million $544 million How many of Levi's common shares were outstanding on 12/31/2020? Multiple Choice 9 million.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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