a. Compute the number of common shares outstanding at the end of each fiscal year. Estimate the average number of shares outstanding during 2014. Hint: To compute the 2014 Average, use the equation for Basic EPS and solve for the denominator (average common shares outstanding). Do not take an average of 2013 and 2014 shares outstanding. Note: Round to one decimal place. 2014 O million 2013 O million 2014 Average O million b. Calculate the average cost per share of the shares held as treasury stock at the end of each fiscal year. Round to two decimal places. 2014 $ 2013 $ c. In 2014, preferred shareholders elected to convert 41 million shares of preferred stock into common stock. Rather than issue new shares, the company granted 41 million shares held in treasury stock to the preferred shareholders. Prepare a journal entry to illustrate how this transaction would have been recorded. (Hint: use the cost per share for 2013 determined in b.) Enter answers in millions. Round to the nearest million. Description Debit Credit Additional paid-in capital d. Calculate P&G's return on common equity (ROCE) for fiscal 2014. Round to one decimal place. 2014 0 % Check

a. Compute the number of common shares outstanding at the end of each fiscal year. Estimate the average number of shares outstanding during 2014. Hint: To compute the 2014 Average, use the equation for Basic EPS and solve for the denominator (average common shares outstanding). Do not take an average of 2013 and 2014 shares outstanding. Note: Round to one decimal place. 2014 O million 2013 O million 2014 Average O million b. Calculate the average cost per share of the shares held as treasury stock at the end of each fiscal year. Round to two decimal places. 2014 $ 2013 $ c. In 2014, preferred shareholders elected to convert 41 million shares of preferred stock into common stock. Rather than issue new shares, the company granted 41 million shares held in treasury stock to the preferred shareholders. Prepare a journal entry to illustrate how this transaction would have been recorded. (Hint: use the cost per share for 2013 determined in b.) Enter answers in millions. Round to the nearest million. Description Debit Credit Additional paid-in capital d. Calculate P&G's return on common equity (ROCE) for fiscal 2014. Round to one decimal place. 2014 0 % Check

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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