The following is the 2009 Statement of Shareholders' Equity from Cisco Systems' 2009 annual report. Remember that
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1. What is the purpose of the statement of shareholders' equity?
2. How does Cisco account for its share buybacks?
3. For its share buybacks in fiscal year 2009, was the price Cisco paid for the shares repurchased more or less than the average price at which Cisco had sold the shares previously? Reconstruct the journal entry Cisco used to record the buyback.
4. What is comprehensive income? What is other comprehensive income?
5. What caused the change in Cisco's comprehensive income in fiscal year 2009? What was the amount of Accumulated other comprehensive income (loss) that Cisco reported in its July 28, 2009 balance sheet? Be specific.
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Related Book For
Intermediate Accounting
ISBN: 978-0077400163
6th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
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