Question
Reconciling Common Stock and Treasury Stock Balances Assume this is the stockholders' equity section from the Abercrombie & Fitch balance sheet. Shareholders' Equity (thousands, except
Reconciling Common Stock and Treasury Stock Balances Assume this is the stockholders' equity section from the Abercrombie & Fitch balance sheet.
Shareholders' Equity (thousands, except par value amounts) | January 28, 2012 | January 29, 2011 |
---|---|---|
Class A common stock-$0.01 par value: 150,000 shares authorized and 101,900 shares issues at January 28, 2012, and January 29, 2011, respectively | $ 1,019 | $ 1,019 |
Paid-in capital | 319,451 | 289,732 |
Retained earnings | 2,051,463 | 1,646,290 |
Accumulated other comprehensive income (loss), net of tax | 7,118 | (994) |
Treasury stock at average cost: 18,141.116 and 14,999.945 shares at January 28, 2012 and January 29, 2011, respectively | (760,752) | (530,764) |
Total shareholders' equity | $ 1,618,299 | $ 1,405,283 |
(a) Show the computation to yield the $1,019 balance reported for common stock. Enter complete number for number of shares (with all zeros). (Answer
shares) x ($Answer) = $1,019 thousand (b) How many shares are outstanding at January 28, 2012? Answershares (c) Use the common stock and paid-in capital accounts to determine the average price at which Abercrombie & Fitch issued its common stock. (Round your answer to two decimal places.) $Answer (d) Use the treasury stock account to determine the average price Abercrombie & Fitch paid when it repurchased its common shares. (Round your answer to two decimal places.) $Answer
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