CASE 3–2 Analyzing and Interpreting Liabilities
Refer to the annual report of Campbell Soup Company in Appendix A.
Campbell Soup Required:
a. Identify Campbell Soupâ€s major categories of liabilities. Identify which of these liabilities require recognition of interest expense.
b. Reconcile activity in the long-term borrowing account for Year 11.
c. Describe the composition of Campbell Soupâ€s long-term liabilities account using its note 19.
Page 220CASE 3–3 Analyzing and Interpreting Equity
Refer to the annual report of Campbell Soup Company in Appendix A.
Campbell Soup Required:
a. Determine the book value per share of Campbell Soupâ€s common stock for Year 11.
b. Identify the par value of Campbell Soupâ€s common shares. Determine the number of common shares authorized, issued, and outstanding at the end of Year 11.
c. Determine how many common shares Campbell Soup repurchased as treasury stock for Year 11. Determine the price at which Campbell Soup repurchased the shares.
CHECK (c) Year 11 repurchase price, $51.72
