ACCT 3100_Baruch College Final Exam Review (Ch.18, 19, 21)

Baruch College Final Exam Review (Ch.18, 19, 21) 1) The following partial information is taken from the comparative balance sheet of Levi Corporation: Shareholders' equity 12/31/2018 12/31/2017 Co mmon stock, $5 par; 20 million shares authorized; 15 million shares issued and 9 million shares outstanding at 12/31/2018; $ 75 million $ 45 million Additional paid-in capital on common stock 520 million 392 million Retained earnings 197 million 157 million Treasury common stock, at cost, 6 million shares at 12/31/2018 and 4 million shares at 12/31/2017 (72 million) (50 million) Total shareholders' equity $ 720 million $ 544 million What was the average price (rounded to the nearest dollar) of the additional shares issued by Levi in 2018? A) $5 per share. B) $26 per share. C) $39 per share. D) $44 per share. 2) The following partial information is taken from the comparative balance sheet of Levi Corporation: Shareholders' equity 12/31/2018 12/31/2017 Common stock, $5 par; 20 million shares authorized; 15 million shares issued and 9 million shares outstanding at 12/31/2018; $ 75 million $ 45 million Additional paid-in capital on common stock 520 million 392 million Retained earnings 197 million 157 million Treasury common stock, at cost, 6 million shares at 12/31/2018 and 4 million shares at 12/31/2017 (72 million) (50 million) Total shareholders' equity $ 720 million $ 544 million What was the average price of the additional treasury shares purchased by Levi during 2018? This study source was downloaded by from CourseH on :06:56 GMT -05:00