4 ! Part 1 of 5 2.08 points Required information [The following information applies to the questions displayed below.] 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) Paid-in capital in excess of par value, common stock Common stock-$5 par value, 100,000 shares authorized, 30,000 shares issued and outstanding Retained earnings Total stockholders' equity eBook $ 150,000 110,000 340,000 $ 600,000 Print Stockholders' Equity (December 31) Common stock-$5 par value, 100,000 shares authorized, 35,000 shares issued, 5,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($40,000 restricted by treasury stock) References Less cost of treasury stock Total stockholders' equity The following transactions and events affected its equity during the year. January 5 Declared a $0.40 per share cash dividend, date of record January 10. Purchased treasury stock for cash. March 20 April 5 July 5 July 31 August 14 October 5 Declared a $0.40 per share cash dividend, date of record April 10. Declared a $0.40 per share cash dividend, date of record July 10. Declared a 20% stock dividend when the stock's market value was $12 per share. Issued the stock dividend that was declared on July 31. Declared a $0.40 per share cash dividend, date of record October 10. Required: 1. How many common shares are outstanding on each cash dividend date? January 5 April 5 July 5 October 5 Outstanding common shares $ 175,000 145,000 420,000 740,000 (40,000) $ 700,000
4 ! Part 1 of 5 2.08 points Required information [The following information applies to the questions displayed below.] 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) Paid-in capital in excess of par value, common stock Common stock-$5 par value, 100,000 shares authorized, 30,000 shares issued and outstanding Retained earnings Total stockholders' equity eBook $ 150,000 110,000 340,000 $ 600,000 Print Stockholders' Equity (December 31) Common stock-$5 par value, 100,000 shares authorized, 35,000 shares issued, 5,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($40,000 restricted by treasury stock) References Less cost of treasury stock Total stockholders' equity The following transactions and events affected its equity during the year. January 5 Declared a $0.40 per share cash dividend, date of record January 10. Purchased treasury stock for cash. March 20 April 5 July 5 July 31 August 14 October 5 Declared a $0.40 per share cash dividend, date of record April 10. Declared a $0.40 per share cash dividend, date of record July 10. Declared a 20% stock dividend when the stock's market value was $12 per share. Issued the stock dividend that was declared on July 31. Declared a $0.40 per share cash dividend, date of record October 10. Required: 1. How many common shares are outstanding on each cash dividend date? January 5 April 5 July 5 October 5 Outstanding common shares $ 175,000 145,000 420,000 740,000 (40,000) $ 700,000
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter10: Stockholder's Equity
Section: Chapter Questions
Problem 57E: Outstanding Stock Lars Corporation shows the following information in the stockholders equity...
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![4
!
Part 1 of 5
2.08
points
Required information
[The following information applies to the questions displayed below.]
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)
Paid-in capital in excess of par value, common stock
Common stock-$5 par value, 100,000 shares authorized, 30,000 shares issued and
outstanding
Retained earnings
Total stockholders' equity
eBook
$ 150,000
110,000
340,000
$ 600,000
Print
Stockholders' Equity (December 31)
Common stock-$5 par value, 100,000 shares authorized, 35,000 shares issued, 5,000
shares in treasury
Paid-in capital in excess of par value, common stock
Retained earnings ($40,000 restricted by treasury stock)
References
Less cost of treasury stock
Total stockholders' equity
The following transactions and events affected its equity during the year.
January 5 Declared a $0.40 per share cash dividend, date of record January 10.
Purchased treasury stock for cash.
March 20
April 5
July 5
July 31
August 14
October 5
Declared a $0.40 per share cash dividend, date of record April 10.
Declared a $0.40 per share cash dividend, date of record July 10.
Declared a 20% stock dividend when the stock's market value was $12 per share.
Issued the stock dividend that was declared on July 31.
Declared a $0.40 per share cash dividend, date of record October 10.
Required:
1. How many common shares are outstanding on each cash dividend date?
January 5
April 5
July 5
October 5
Outstanding common shares
$ 175,000
145,000
420,000
740,000
(40,000)
$ 700,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F2da8efb5-a984-4f4e-8f9e-a30cd9e7e845%2F15d15e33-17bf-48a8-adfe-564975619f68%2Fqcwb2i8_processed.png&w=3840&q=75)
Transcribed Image Text:4
!
Part 1 of 5
2.08
points
Required information
[The following information applies to the questions displayed below.]
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)
Paid-in capital in excess of par value, common stock
Common stock-$5 par value, 100,000 shares authorized, 30,000 shares issued and
outstanding
Retained earnings
Total stockholders' equity
eBook
$ 150,000
110,000
340,000
$ 600,000
Print
Stockholders' Equity (December 31)
Common stock-$5 par value, 100,000 shares authorized, 35,000 shares issued, 5,000
shares in treasury
Paid-in capital in excess of par value, common stock
Retained earnings ($40,000 restricted by treasury stock)
References
Less cost of treasury stock
Total stockholders' equity
The following transactions and events affected its equity during the year.
January 5 Declared a $0.40 per share cash dividend, date of record January 10.
Purchased treasury stock for cash.
March 20
April 5
July 5
July 31
August 14
October 5
Declared a $0.40 per share cash dividend, date of record April 10.
Declared a $0.40 per share cash dividend, date of record July 10.
Declared a 20% stock dividend when the stock's market value was $12 per share.
Issued the stock dividend that was declared on July 31.
Declared a $0.40 per share cash dividend, date of record October 10.
Required:
1. How many common shares are outstanding on each cash dividend date?
January 5
April 5
July 5
October 5
Outstanding common shares
$ 175,000
145,000
420,000
740,000
(40,000)
$ 700,000
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