The following information was taken from the 2009 annual report of Coca-Cola (dollar and share amounts in
Question:
The following information was taken from the 2009 annual report of Coca-Cola (dollar and share amounts in millions)
(a) At what average price did the company repurchased its shares in 2007?
(b) At what average price did the company repurchase its shares in 2008?
(c) The December 31, 2009, balance in treasury stock was ($25,398). If Coca-Cola reissues treasury shares in the amount of $1,200 to support 2010 employee compensation plans, what will be the December 31, 2010 balance in the treasury stock account?
Treasury Shares Dollar Amount 2007 Share repurchases 2008 Share repurchases 2009 Share repurchases 34 18 S1,756 1.044 1,484 26
Step by Step Answer:
a During 2007 the company paid an average of 5165 per share in ...View the full answer
Related Video
Treasury stock refers to shares of a company\'s own stock that the company has bought back from its shareholders and now holds as a form of asset on its balance sheet. When a company buys back its own stock, it reduces the number of outstanding shares in the market, which can potentially increase the value of the remaining shares. Treasury stock can be acquired through a variety of methods, such as open market purchases, negotiated transactions, or as a result of converting convertible securities. Companies may buy back their own shares for a number of reasons, including to return capital to shareholders, to signal confidence in the company\'s future, or to use the shares for employee stock option plans. While treasury stock does not pay dividends, it can be reissued by the company at a later time, which could dilute the value of the remaining shares. Companies are required to report their treasury stock holdings in their financial statements.
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