The following partial information is taken from the comparative balance sheet of
ID: 2484759 • Letter: T
Question
The following partial information is taken from the comparative balance sheet of Levi Corporation:
(73 million)
(39 million)
$740 million
$579 million
What was the average price of the additional treasury shares purchased by Levi during 2016?
Shareholders’ equity 12/31/2016 12/31/2015 Common stock, $5 par value; 23 million shares authorized; 18 million shares issued and 12 million shares outstanding at 12/31/2016; and ____million shares issued and ____shares outstanding at 12/31/2015. $90 million $60 million Additional paid-in capital on common stock 523 million 398 million Retained earnings 200 million 160 million Treasury common stock, at cost, 6 million shares at 12/31/2016 and 4 million shares at 12/31/2015(73 million)
(39 million)
Total shareholders’ equity$740 million
$579 million
Explanation / Answer
Details Dec 31.2016 Dec 31.2015 Additional purchased in 2016. No of Treasury Stock 6,000,000 4,000,000 2,000,000 Treasury Stock value 73,000,000 39,000,000 34,000,000 Average cost of additional treasury stock purchased in 2016=34000000/2000000= $ 17.00
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