Question: The equity sections from Atticus groups 2016 and 2017 year and bounce sheets follow. what is the amount of the capitalization of retained earnings for
[The following information applies to the questions displayed below.) The equity sections from Atticus Group's 2016 and 2017 year-end balance sheets follow. Stockholders' Equity (December 31, 2016) Common stock-$5 par value, 100,000 shares authorized, 35,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 175,000 135,000 340,000 $ 650,000 51 Stockholders' Equity (December 31, 2017) Common stock-$5 par value, 100,000 shares authorized, 41,200 shares issued, 4,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($40,000 restricted by treasury stock) $206,000 178,400 420,000 884,480 (40,000) $764,400 Less cost of treasury stock Total stockholders' equity The following transactions and events affected its equity during year 2017. Jan. 5 Declared a $9.40 per share cash dividend, date of record Jahuary 1e. Mar. 20 Purchased treasury stock for cash, Apr. 5 Declared a $8.40 per share cash dividend, date of record April 10. July 5 Declared a 50.40 per share cash dividend, date of record July 10. July 31 Declared a 20% stock dividend when the stock's market value was $12 per share. Aug. 14 Issued the stock dividend that was declared on July 31. Oct. 5 Declared a $0,40 per share cash dividend, date of record October 10.
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
