Unilever Group reports the following equity information for the years ended December 31, 2007 and 2008 (euros in millions).
December 31 | 2008 | 2007 |
Share capital | € 484 | € 484 |
Share premium | 121 | 153 |
Other reserves | (6,469) | (3,412) |
Retained profit | 15,812 | 15,162 |
Shareholders’ equity | € 9,948 | €12,387 |
1.For each of the three account titles share capital, share premium, and retained profit, match it with the usual account title applied under U.S. GAAP from the following options:
a.Paid-in capital in excess of par value, common stock
b.Retained earnings
c.Common stock, par value
2. Prepare Unilever’s journal entry, using its account titles, to record the issuance of capital stock assuming that its entire par value stock was issued on December 31, 2007, for cash.
3. What were Unilever’s 2008 dividends assuming that only dividends and income impacted retained profit for 2008 and that its 2008 income totaled €2,692?
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