Refer to the financial statements and accompanying notes and discussion of Canadian Tire Corporation Limited for the

Question:

Refer to the and accompanying notes and discussion of Canadian Tire Limited for the year ended December 31, 2011, and answer the following questions. The are available on SEDAR at www.sedar.com.
Instructions
(a) What are the issued and authorized shares for both classes of shares that the company has? What percentage of the authorized shares is issued?
(b) Compare the rights that are attached to each share. Are the class A shares more like preferred shares or common shares?
(c) Why does the company repurchase shares every year? How successful was it in achieving its objective in 2011?
(d) How did the company account for the excess of the amount paid on reacquisition over the carrying value of the shares for 2011? Recreate the journal entry.
(e) What was the average carrying value of the shares at the beginning of the year? What average price were the shares repurchased at? Compare this with the market prices of the shares.
(f) Review the capital disclosure note. What are the company's objectives in managing its capital? How does it monitor its capital? What is included in capital for the company?
Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial... Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...