The world’s Largest Sharp Brain Virtual Experts Marketplace Just a click Away
Levels Tought:
Elementary,Middle School,High School,College,University,PHD
| Teaching Since: | May 2017 |
| Last Sign in: | 402 Weeks Ago, 3 Days Ago |
| Questions Answered: | 66690 |
| Tutorials Posted: | 66688 |
MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
Analyzing and Computing Average Issue Price and Treasury Stock Cost
Following is the stockholdersAc€?c equity section from the Campbell Soup Company balance sheet. (Note: CampbellAc€?cs uses shareownersAc€?c equity in lieu of the more common title of stockholdersAc€?c equity.).
| Shareholders' Equity (millions, except per share amounts) | July 28, 2013 | July 29, 2012 |
|---|---|---|
| Preferred stock: authorized 40 shares; non issued | $ -- | $ -- |
| Capital stock, $.0375 par value; authorized 560 shares; | Â | Â |
| issued 323 shares as of July 28, 2013, and 542 as of | Â | Â |
| July 29, 2012 | 12 | 20 |
| Additional paid-in capital | 362 | 329 |
| Earnings retained in the business | 1,772 | 9,584 |
| Capital stock in treasury, 186 shares in 2008 and 163 shares in 2007, at cost | (364) | (8,259) |
| Accumulated other comprehensive loss | (565) | (776) |
| Total Campbell Soup Company shareownersAc€?c equity | 1,210 | 898 |
| Noncontrolling interests | (7) | -- |
| Total equity | 1,210 | 898 |
| Total liabilities and equity | $ 8,323 | $ 6,530 |
Assume Campbell Soup Company also reports the following statement of stockholders' equity.
| Campbell Soup Company ShareownersAc€?c Equity |
|||||||||
|---|---|---|---|---|---|---|---|---|---|
| (Millions, except per share amounts) | Capital Stock | Additional Paid-in Capital |
Earnings Retained in the Business |
Accumulated Other Comprehensive Income (Loss) |
Noncontrolling |
Total |
|||
| Issued | In Treasury | ||||||||
| Shares | Amount | Shares | Amount | ||||||
| Balance at July 29, 2012 | 582 | $ 20 | (230) | $ (8,259) | $ 329 | $ 9,584 | $ (776) | $ -- | $ 898 |
| Contribution from noncontrolling interests | Â | Â | Â | Â | Â | Â | Â | 3 | 3 |
| Net earnings (loss) | Â | Â | Â | Â | Â | 458 | Â | (9) | 449 |
| Other comprehensive income (loss) | Â | Â | Â | Â | Â | Â | 211 | (1) | 210 |
| Dividends ($1.16 per share) | Â | Â | Â | Â | Â | (371) | Â | Â | (371) |
| Treasury stock purchased | Â | Â | (4) | (153) | Â | Â | Â | Â | (153) |
| Treasury stock retired | (219) | (8) | 219 | 7,907 | Â | (7,899) | Â | Â | -- |
| Treasury stock issued under management | Â | Â | Â | Â | Â | Â | Â | Â | Â |
| incentive and stock option plans | Â | Â | 4 | 141 | 33 | Â | Â | Â | 174 |
| Balance at July 28, 2013 | 323 | $ 12 | (11) | $ (364) | $ 362 | $ 1,772 | $ (565) | $ (7) |
$1,210 |
(c) Reconcile the beginning and ending balances of retained earnings. ($ millions)
(Enter any deductions as negative numbers)
| Retained earnings, July 29, 2012 | $Answer |
| Net earnings | Answer |
| Dividends |
Answer |
Miscellaneous Answer
Hel-----------lo -----------Sir-----------/Ma-----------dam-----------Tha-----------nk -----------You----------- fo-----------r u-----------sin-----------g o-----------ur -----------web-----------sit-----------e a-----------nd -----------and----------- ac-----------qui-----------sit-----------ion----------- of----------- my----------- po-----------ste-----------d s-----------olu-----------tio-----------n.P-----------lea-----------se -----------pin-----------g m-----------e o-----------n c-----------hat----------- I -----------am -----------onl-----------ine----------- or----------- in-----------box----------- me----------- a -----------mes-----------sag-----------e I----------- wi-----------ll