Reconciling Common Stock and Treasury Stock Balances Following is the stockholders' equity section from the...
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Accounting
Reconciling Common Stock and Treasury Stock Balances Following is the stockholders' equity section from the Abercrombie & Fitch Co. balance sheet.
Stockholders' Equity (thousands, except par value amounts)
February 2, 2013
January 28, 2012
Class A common stock-$0.01 par value: 150,000 shares authorized and 103,300 shares issues at each of February 2, 2013, and January 28, 2012
$ 1,033
$ 1,033
Paid-in capital
403,271
369,171
Retained earnings
2,567,261
2,389,614
Accumulated other comprehensive income (loss), net of tax
(13,288)
6,291
Treasury stock at average cost: 24,855 and 17,662 shares at February 2, 2013 and January 28, 2012, respectively
(1,140,009)
(834,774)
Total shareholders' equity
$ 1,818,268
$ 1,931,335
(a) Show the computation to yield the $1,033 balance reported for common stock. Enter complete number for number of shares (with all zeros). (Answershares) x ($Answer) = $1,033 thousand (b) How many shares are outstanding at 2013 fiscal year-end? Answershares (c) Use the common stock and paid-in capital accounts to determine the average price at which Abercrombie & Fitch issued its common stock. (Round your answer to two decimal places.) $Answer (d) Use the treasury stock account to determine the average price Abercrombie & Fitch paid when it repurchased its common shares. (Round your answer to two decimal places.) $Answer
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