Analyzing and Computing Average Issue Price and Treasury Stock Cost Following is the stockholders' equity section from the Campbell Soup Company balance sheet. Shareholders' Equity (millions, except per share amounts) Preferred stock: authorized 40 shares: non issued Capital stock, $0.0375 par value: authorized 560 shares: issued 542 shares Additional paid-in capital Earnings retained in the business Capital stock in treasury, at cost Accumulated other comprehensive loss Total CampbellSoup Company shareowners' equity Noncontrolling interest Total equity (Millions, except per share amounts) Balance at August 2, 2009 Net earnings Other comprehensive income (loss) Dividends ($0.88 per share) Treasury stock purchased August 1, 2010 August 2, 2009 S- S- 20 341 8,760 (7,459) (736) 926 Treasury stock issued under management incentive and stock options plan Balance at August 1, 2010 Campbell Soup Company also reports the following statement of stockholders' equity. Capital Stock Earnings In Treasury Additional Retained in Shares Amount Shares Amount Paid-in Capital the Business 542 $20 (199) $ (7,194) $ 332 $8,288 844 3 $929 Issued 542 20 332 8,288 (7.194) (718) 728 3 $731 (14) 7 (472) 207 $20 (206) $ (7,459) 9 $ 341 (372) $8,760 Total Accumulated Other Comprehensive Noncontrolling share-owners Income (Loss) Interest Equity $(718) (18) $(736) $3 $3 $731 844 (18) (372) (472) 216 $929 (a) Campbell Soup Company reports $20 million in its Common Stock account. Which of the following statements best describes the manner in which this number is computed? OThe computation uses the number of issued shares multiplied by the par value of the stock. OThe computation uses the number of outstanding shares multiplied by the par value of the stock. OThe computation uses the number of outstanding shares multiplied by the market price of the stock. OThe computation uses the number of issued shares multiplied by the market value of the stock.
Analyzing and Computing Average Issue Price and Treasury Stock Cost Following is the stockholders' equity section from the Campbell Soup Company balance sheet. Shareholders' Equity (millions, except per share amounts) Preferred stock: authorized 40 shares: non issued Capital stock, $0.0375 par value: authorized 560 shares: issued 542 shares Additional paid-in capital Earnings retained in the business Capital stock in treasury, at cost Accumulated other comprehensive loss Total CampbellSoup Company shareowners' equity Noncontrolling interest Total equity (Millions, except per share amounts) Balance at August 2, 2009 Net earnings Other comprehensive income (loss) Dividends ($0.88 per share) Treasury stock purchased August 1, 2010 August 2, 2009 S- S- 20 341 8,760 (7,459) (736) 926 Treasury stock issued under management incentive and stock options plan Balance at August 1, 2010 Campbell Soup Company also reports the following statement of stockholders' equity. Capital Stock Earnings In Treasury Additional Retained in Shares Amount Shares Amount Paid-in Capital the Business 542 $20 (199) $ (7,194) $ 332 $8,288 844 3 $929 Issued 542 20 332 8,288 (7.194) (718) 728 3 $731 (14) 7 (472) 207 $20 (206) $ (7,459) 9 $ 341 (372) $8,760 Total Accumulated Other Comprehensive Noncontrolling share-owners Income (Loss) Interest Equity $(718) (18) $(736) $3 $3 $731 844 (18) (372) (472) 216 $929 (a) Campbell Soup Company reports $20 million in its Common Stock account. Which of the following statements best describes the manner in which this number is computed? OThe computation uses the number of issued shares multiplied by the par value of the stock. OThe computation uses the number of outstanding shares multiplied by the par value of the stock. OThe computation uses the number of outstanding shares multiplied by the market price of the stock. OThe computation uses the number of issued shares multiplied by the market value of the stock.
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter10: Stockholder's Equity
Section: Chapter Questions
Problem 57E: Outstanding Stock Lars Corporation shows the following information in the stockholders equity...
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