Unilever Group reports the following equity information for the years ended December 31, 2007 and 2008 (euros

Question:

Unilever Group reports the following equity information for the years ended December 31, 2007 and 2008 (euros in millions).

1. For each of the three account titles share capital, share premium, retained profit, match it with the usual account title applied under U.S. GAAP from the following options:
a. Paid-in capital in excess of par value, common stock
b. Retained earnings
c. Common stock, par value
2. Prepare Unileverâ€™s journal entry, using its account titles, to record the issuance of capital stock assuming that its entire par value stock was issued on December 31, 2007, for cash.
3. What were Unileverâ€™s 2008 dividends assuming that only dividends and income impacted retained profit for 2008 and that its 2008 income totaledâ‚¬2,692?

GAAP
Generally Accepted Accounting Principles (GAAP) is the accounting standard adopted by the U.S. Securities and Exchange Commission (SEC). While the SEC previously stated that it intends to move from U.S. GAAP to the International Financial Reporting Standards (IFRS), the... Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...