Following is the stockholders’ equity section from the Campbell Soup Company bal
ID: 2583467 • Letter: F
Question
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.).
At what average price were the Campbell Soup shares issued? (Round your answer to two decimal places.)
Shareholders' Equity (millions, except per share amounts) July 31, 2016 August 2, 2015 Preferred stock: authorized 40 shares; non issued $ -- $ -- Capital stock, $.0375 par value; authorized 560 shares; issued 323 shares 12 12 Additional paid-in capital 354 339 Earnings retained in the business 1,927 1,754 Capital stock in treasury, at cost (664) (556) Accumulated other comprehensive loss (104) (168) Total Campbell Soup Company shareowners’ equity 1,525 1,381 Noncontrolling interests 8 (4) Total equity $1,533 $1,377Explanation / Answer
Answer:
Average price
=( issued shares+ Additional paid-in capital) / total Number of share out standing for the year
=(12+354) / 323
=366 /323
=$1.13 per share
average price were the Campbell Soup shares issued =$1.13