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Aleks [24]
3 years ago
8

The 2016 annual report for Mega Mills disclosed that 1 billion shares of common stock have been authorized. At the end of 2015,

750 million shares had been issued and the number of shares in treasury stock was 103 million. During 2016, the only common share transactions were that 16 million common shares were reissued from treasury and 22 million common shares were purchased and held as treasury stock.
Required:
1. Determine the number of common shares (a) issued, (b) in treasury, and (c) outstanding at the end of 2016. (Enter your answers in millions.)
Business
1 answer:
Ainat [17]3 years ago
4 0

Answer:a. Total common stock issued is 750 millions

b. In treasury is 109 million

c. Outstanding 750 million.

Explanation:

Issued shares referred to the total amount of authorised shares that has been issued to the public for subscription.

Treasury stock refers to parts of the issued stock that are held up for the ownership of the issuing company.

Outstanding stock refers to the total number of stock issued and fully paid for from the issued stock.

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Which term best completes the outline?
Strike441 [17]

Answer:

C. Market.

Explanation:

An economy is a function of how money, means of production and resources (raw materials) are carefully used to facilitate the demands and supply of goods and services to meet the unending needs or requirements of the consumers.

Hence, a region's or country's economy is largely dependent on how resources are being allocated and utilized, how many goods and services are to be produced, what should be produced, for whom they are to be produced for and how much money are to be spent by the consumers to acquire these goods and services.

Basically, there are four (4) main types of economy and these are;

I. Mixed economy.

II. Command economy.

III. Traditional economy.

IV. Free market economy.

A free-enterprise system also referred to as capitalism or free market can be defined as a type of economy in which prices, products and services are being determined by the market rather than the government. Thus, a free-enterprise system is devoid (free) of government regulations, interference or control because the market (enterprises) are the ones who are saddled with the responsibility of determining the market forces.

Simply stated, a free-enterprise system is a type of economy that is completely driven by demand and supply of goods and services.

The four (4) main elements or characteristics of a free enterprise system includes the following;

a. Profit: businesses are all out to generate revenue and profit through the sales of finished goods.

b. Economic freedom: means of production of goods and services are controlled by the people rather than the government. Thus, the producers are free to make their economic choices or decisions such as deciding on how much is to be charged on a product.

c. Private ownership of properties: the various factors of production are owned and allocated by the people. Thus, citizens have rights to the ownership and use of private property.

d. Competition: there are many buyers and sellers of homogeneous products, as well as free entry and exit in the market. Thus, consumers are free to make their economic choices or decisions such as deciding on which product to buy, which goods interest them, where to shop for goods, etc.

In conclusion, a market is characterized by the following economy;

I. Economic freedom

II. Competition between businesses

III. Decisions motivated by profit

5 0
3 years ago
The following information is available to reconcile Branch Company's book balance of cash with its bank statement cash balance a
Sauron [17]

Answer:

a. No journal entry required.

Explanation:

a. No journal entry required.

b. No journal entry required.

c. DR - Rent Expense -  $20

  CR - Cash - $20

d. Cash (DR) 7,955

  DR - Collection expense - $45

  CR - Notes Receivable - $8,000

e. DR - Accounts Receivable-E. Shaw - $ 805

   CR - Cash - $805

f. DR - Misc Expenses - $25

  CR - Cash - $25  

g. No journal entry required.

i. No journal entry required.

5 0
3 years ago
Read 2 more answers
Ramon incorporated his sole proprietorship by transferring inventory, a building, and land to the corporation in return for 100
olasank [31]

Answer:

Ramon’s basis in the stock he receives in his corporation is $84,000

Explanation:

The computation of Ramon’s basis in the stock received in his corporation would be $84,000 as this amount reflect the adjusted basis of the assets transferred to the corporation.  

These assets include inventory, building, and land. So, the total amount of the total assets would be received i.e based on an adjusted basis, not the fair market value  

6 0
3 years ago
Once mylie's total utility begins to decrease, does each additional singing of the song hurt more than the previous one or less
True [87]

When total utility starts to decrease, each additional song hurts MORE than the previous song.

6 0
3 years ago
In which of the following scenarios would you have the most money at the end of the year? 3% compounded yearly 2% compounded mon
larisa [96]
3% compounded yearly<span />
4 0
3 years ago
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