The equity sections for Atticus Group at the beginning of the year (January 1) and end...
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The equity sections for Atticus Group at the beginning of the year (January 1) and end of the year (December 31) follow stockholders Equity (January 1) Common stock-$6 par value, 100,000 shares authorized, 40,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders equity Stockholders' Equity (December 31) Common stock-$6 par value, 100,000 shares authorized, 47,000 shares issued, 5,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($50,000 restricted by treasury stock) Less cost of treasury stock Total stockholders equity $240,000 200,000 340,000 $780,000 $282,000 256,000 400,000 938,000 (50,000) $888,000 The following transactions and events affected its equity during the year, Jan. 5 Declared a $0.50 per share cash dividend, date of record January 10. Mar. 20 Purchased treasury stock for cash. Apr. 5 Declared a $0.50 per share cash dividend, date of record April 10. July 5 Declared a $0.50 per share cash dividend, date of record July 10. July 31 Declared a 20% stock dividend when the stock's market value was $14 per share. Stockholders' Equity (December 31) Common stock-$6 par value, 100,000 shares authorized, 47,000 shares issued, 5,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($50,000 restricted by treasury stock) Less cost of treasury stock Total stockholders' equity Required: 1. How many common shares are outstanding on each cash dividend date? Outstanding common shares The following transactions and events affected its equity during the year. Jan. 5 Declared a $e.50 per share cash dividend, date of record January 10. Mar. 20 Purchased treasury stock for cash. Apr. 5 Declared a $0.50 per share cash dividend, date of record April 10. July 5 Declared a $0.50 per share cash dividend, date of record July 10. July 31 Declared a 20% stock dividend when the stock's market value was $14 per share. Aug. 14 Issued the stock dividend that was declared on July 31. Oct. 5 Declared a $0.50 per share cash dividend, date of record October 10. Jan. 5 Apr. 5 $282,000 256,000 400,000 July 5 938,000 (50,000) $888,000 Oct. 5 The following transactions and events affected its equity during the year. Jan. 5 Declared a $0.50 per share cash dividend, date of record January 10. Mar. 28 Purchased treasury stock for cash. Apr. 5 Declared a $0.50 per share cash dividend, date of record April 18. July 5 Declared a $0.50 per share cash dividend, date of record July 19. July 31 Declared a Aug. 14 Issued the Oct. 5 Declared a 20% stock dividend when the stock's market value was $14 per stock dividend that was declared on July 31. $0.50 per share cash dividend, date of record October 16. 2. What is the total dollar amount for each of the four cash dividends? Cash dividend amounts Jan. 5 Apr. 5 July 5 Oct. 5 19 uecember 31) Common stock-$6 par value, 100,000 shares authorized, 47,000 shares issued, 5,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($50,eee restricted by treasury stock) Less cost of treasury stock Total stockholders' equity The following transactions and events affected its equity during the year. Jan. 5 Declared a $0.50 per share cash dividend, date of record January 10. Mar. 20 Purchased treasury stock for cash. Apr. 5 Declared a $0.50 per share cash dividend, date of record April 10. July 5 Declared a $8.50 per share cash dividend, date of record July 10. July 31 Declared a 20% stock dividend when the stock's market value was $14 per share. Aug. 14 Issued the stock dividend that was declared on July 31. Oct. 5 Declared a $0.50 per share cash dividend, date of record October 10. Capitalization amount 3. What is the amount of retained earnings transferred to paid-in capital accounts (capitalized) for the stock dividend? rev 5 96 $282,000 256,000 400,000 7 938,000 (50,000) $888,000 lipi of 7 ⠀ Next > creasury capital in excess of par value, common stock Retained earnings ($50,000 restricted by treasury stock) Less cost of treasury stock Total stockholders' equity The following transactions and events affected its equity during the year. Jan. 5 Declared a $0.50 per share cash dividend, date of record January 10. Mar. 20 Purchased treasury stock for cash. Apr. 5 Declared a $0.50 per share cash dividend, date of record April 10. July 5 Declared a $0.50 per share cash dividend, date of record July 10. July 31 Declared a 20% stock dividend when the stock's market value was $14 per share. Aug. 14 Issued the stock dividend that was declared on July 31. Oct. 5 Declared a $0.50 per share cash dividend, date of record October 10. 4. What is the per share cost of the treasury stock purchased? (Round your answer to 2 decimal places.) Cost per share Prev S 6 7 of 7 $282,000 256,000 400,000 938,000 (50,000) $888,000 ly ⠀ Next > The following transactions and events affected its equity during the year. Jan. 5 Declared a $0.50 per share cash dividend, date of record January 10. Mar. 20 Purchased treasury stock for cash. Apr. 5 Declared a $0.50 per share cash dividend, date of record April 10. July 5 Declared a $0.50 per share cash dividend, date of record July 10. July 31 Declared a 20% stock dividend when the stock's market value was $14 pe Aug. 14 Issued the stock dividend that was declared on July 31. Oct. 5 Declared a $0.50 per share cash dividend, date of record October 10. ow much net income did the company earn this year? ncome The equity sections for Atticus Group at the beginning of the year (January 1) and end of the year (December 31) follow stockholders Equity (January 1) Common stock-$6 par value, 100,000 shares authorized, 40,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders equity Stockholders' Equity (December 31) Common stock-$6 par value, 100,000 shares authorized, 47,000 shares issued, 5,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($50,000 restricted by treasury stock) Less cost of treasury stock Total stockholders equity $240,000 200,000 340,000 $780,000 $282,000 256,000 400,000 938,000 (50,000) $888,000 The following transactions and events affected its equity during the year, Jan. 5 Declared a $0.50 per share cash dividend, date of record January 10. Mar. 20 Purchased treasury stock for cash. Apr. 5 Declared a $0.50 per share cash dividend, date of record April 10. July 5 Declared a $0.50 per share cash dividend, date of record July 10. July 31 Declared a 20% stock dividend when the stock's market value was $14 per share. Stockholders' Equity (December 31) Common stock-$6 par value, 100,000 shares authorized, 47,000 shares issued, 5,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($50,000 restricted by treasury stock) Less cost of treasury stock Total stockholders' equity Required: 1. How many common shares are outstanding on each cash dividend date? Outstanding common shares The following transactions and events affected its equity during the year. Jan. 5 Declared a $e.50 per share cash dividend, date of record January 10. Mar. 20 Purchased treasury stock for cash. Apr. 5 Declared a $0.50 per share cash dividend, date of record April 10. July 5 Declared a $0.50 per share cash dividend, date of record July 10. July 31 Declared a 20% stock dividend when the stock's market value was $14 per share. Aug. 14 Issued the stock dividend that was declared on July 31. Oct. 5 Declared a $0.50 per share cash dividend, date of record October 10. Jan. 5 Apr. 5 $282,000 256,000 400,000 July 5 938,000 (50,000) $888,000 Oct. 5 The following transactions and events affected its equity during the year. Jan. 5 Declared a $0.50 per share cash dividend, date of record January 10. Mar. 28 Purchased treasury stock for cash. Apr. 5 Declared a $0.50 per share cash dividend, date of record April 18. July 5 Declared a $0.50 per share cash dividend, date of record July 19. July 31 Declared a Aug. 14 Issued the Oct. 5 Declared a 20% stock dividend when the stock's market value was $14 per stock dividend that was declared on July 31. $0.50 per share cash dividend, date of record October 16. 2. What is the total dollar amount for each of the four cash dividends? Cash dividend amounts Jan. 5 Apr. 5 July 5 Oct. 5 19 uecember 31) Common stock-$6 par value, 100,000 shares authorized, 47,000 shares issued, 5,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($50,eee restricted by treasury stock) Less cost of treasury stock Total stockholders' equity The following transactions and events affected its equity during the year. Jan. 5 Declared a $0.50 per share cash dividend, date of record January 10. Mar. 20 Purchased treasury stock for cash. Apr. 5 Declared a $0.50 per share cash dividend, date of record April 10. July 5 Declared a $8.50 per share cash dividend, date of record July 10. July 31 Declared a 20% stock dividend when the stock's market value was $14 per share. Aug. 14 Issued the stock dividend that was declared on July 31. Oct. 5 Declared a $0.50 per share cash dividend, date of record October 10. Capitalization amount 3. What is the amount of retained earnings transferred to paid-in capital accounts (capitalized) for the stock dividend? rev 5 96 $282,000 256,000 400,000 7 938,000 (50,000) $888,000 lipi of 7 ⠀ Next > creasury capital in excess of par value, common stock Retained earnings ($50,000 restricted by treasury stock) Less cost of treasury stock Total stockholders' equity The following transactions and events affected its equity during the year. Jan. 5 Declared a $0.50 per share cash dividend, date of record January 10. Mar. 20 Purchased treasury stock for cash. Apr. 5 Declared a $0.50 per share cash dividend, date of record April 10. July 5 Declared a $0.50 per share cash dividend, date of record July 10. July 31 Declared a 20% stock dividend when the stock's market value was $14 per share. Aug. 14 Issued the stock dividend that was declared on July 31. Oct. 5 Declared a $0.50 per share cash dividend, date of record October 10. 4. What is the per share cost of the treasury stock purchased? (Round your answer to 2 decimal places.) Cost per share Prev S 6 7 of 7 $282,000 256,000 400,000 938,000 (50,000) $888,000 ly ⠀ Next > The following transactions and events affected its equity during the year. Jan. 5 Declared a $0.50 per share cash dividend, date of record January 10. Mar. 20 Purchased treasury stock for cash. Apr. 5 Declared a $0.50 per share cash dividend, date of record April 10. July 5 Declared a $0.50 per share cash dividend, date of record July 10. July 31 Declared a 20% stock dividend when the stock's market value was $14 pe Aug. 14 Issued the stock dividend that was declared on July 31. Oct. 5 Declared a $0.50 per share cash dividend, date of record October 10. ow much net income did the company earn this year? ncome
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Cornerstones of Financial and Managerial Accounting
ISBN: 978-0324787351
1st Edition
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