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This report represents a general theory applicable to axial, radial, and mixed flow turbomachines operating at subsonic and supersonic speeds with a finite number of blades of finite thickness. References reflect the evolution of computational methods used, from the inception of the theory in the 50's to the high-speed computer era of the 90's. Two kinds of relative stream surfaces, S(sub 1) and S(sub 2), are introduced for the purpose of obtaining a three-dimensional flow solution through the combination of two-dimensional flow solutions. Nonorthogonal curvilinear coordinates are used for the governing equations. Methods of computing transonic flow along S(sub 1) and S(sub 2) stream surfaces are given for special cases as well as for fully three-dimensional transonic flows. Procedures pertaining to the direct solutions and inverse solutions are presented. Information on shock wave locations and shapes needed for computations are discussed. Experimental data from a Deutsche Forschungs- und Versuchsanstalt fur Luft- und Raumfahrt e.V. (DFVLR) rotor and from a Chinese Academy of Sciences (CAS) transonic compressor rotor are compared with the computed flow properties.