For a recent 2-year period, the statement of financial position of Jones Company showed the following equity

Question:

For a recent 2-year period, the statement of financial position of Jones Company showed the following equity data at December 31 in millions.

Instructions
(a) Answer the following questions.
(1) What is the par value of the ordinary shares?
(2) What is the cost per treasury share at December 31, 2011, and at December 31, 2010?
(b) Prepare the equity section at December 31,2011.

Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...