nalyzing and Computing Average Issue Price and Treasury Stock Cost Following is

Question

nalyzing and Computing Average Issue Price and Treasury Stock Cost
Following is the stockholders’ equity section from the Campbell Soup Company balance sheet. (Note: Campbell’s uses shareowners’ equity in lieu of the more common title of stockholders’ equity.).

Assume Campbell Soup Company also reports the following statement of stockholders' equity.

Noncontrolling
Interests

Total
Equity

$1,210

(c) Reconcile the beginning and ending balances of retained earnings. ($ millions)

(Enter any deductions as negative numbers)

Answer

Miscellaneous Answer

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; issued 323 shares as of July 28, 2013, and 542 as of 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 shareowners’ equity 1,210 898 Noncontrolling interests (7) -- Total equity 1,210 898 Total liabilities and equity $ 8,323 $ 6,530

Explanation / Answer

Answer:(c)

Retained earnings, July 29, 2012 9584 Dividends -371 Net earnings 458 Miscellaneous Retained earnings, 28 july,2013 -8 Net earnings 9663

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