Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Analyzing and Computing Average Issue Price and Treasury Stock Cost Assume this is the stockholders' equity section from the Campbell Soup Company balance sheet. Shareholders'

image text in transcribed
image text in transcribed
image text in transcribed
Analyzing and Computing Average Issue Price and Treasury Stock Cost Assume this is the stockholders' equity section from the Campbell Soup Company balance sheet. Shareholders' Equity (millions, except per share amounts) August 3, 2008 July 29, 2007 Preferred stock authorized 40 shares: non issued Capital stock $0.0375 par value: authorized 560 shares: issued 542 sharest 20 20 Additional paid-in capital 337 331 Earnings retained in the business 7.866 7,072 Capital stock in treasury. 186 shares in 2008 and 163 shares in 2007, at cost (6.812) (6,015) Accumulated other comprehensive loss (136) (123) Total shareholders equity $1275 $1.285 Assume Campbell Soup Company also reports the following statement of stockholders' equity. Acumulated Capital Stock Earnings Other Total issued in Treasury Additional Retained in Comprehensive share-owners (Millions except per share amounts) Shares Amount Shares Amount Pald-in Capital the Business Income (Loss) Equity Balance at July 29, 2007 542 520 (163) (6.015) 5331 57072 5112 Comprehensive income (loss) Net earnings 1.145 Foreign currency translation adjustments, net of tax Cash flow hedges, net of tax Pension and postretirement benefits, net of tax Other comprehensive loss Total comprehensive income Impact on adoption of FIN 48 Note 10) Dividends (50.88 per share) 337) Treasury stock purchased (903) Treasury stock issued under managementincentive and stock options plan 106 112 542 Balance at August 3, 2008 520 (106) 5 (6.812) 5337 57.866 51136 Jodins 51 (c) Reconcile the beginning and ending balances of retained earnings. (Enter any deductions as negative numbers.) ($ millions) Retained earnings, July 29, 2007 $ 7,072 Net earnings 1,145 Dividends (337) Miscellaneous 11 X Retained earnings, August 3, 2008 $ 7,880 X

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing Diversity In Library Collections

Authors: Rosalind Washington, Sarah Voels

1st Edition

1440878749, 978-1440878749

More Books

Students also viewed these Accounting questions

Question

3. What obstacles interfere with eff ective listening?

Answered: 1 week ago