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-$5 par value, 100,000 shares authorized, 35,00a shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings $175,000 135,000 340, 000 Total stockholders' equity S650, 000 stockholders' Equity (December 31) Common stock-S5 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 ($48,000 restricted by treasury stock) $206, e00 166, 000 420, 000 792,e00 (40,e00) Less cost of treasury stock Total stockholders' equity $752,000 The following transactions and events affected Its equity during the year. Jan. 5 Declared a se.40 per share cash dividend, date of record January 18. Mar. 20 Purchased treasury stock for cash. Apr. 5 Declared a se.40 per share cash dividend, date of record April 1e. July 5 Declared a se.40 per share cash dividend, date of record July 1e. July 31 Declared a 20% stock dividend when the stock's market value was $1e per share. Aug. 14 Issued the stock dividend that was declared on July 31. oct. 5 Declared a se.40 per share cash dividend, date of record october 10. red: w many common shares are outstanding on each cash dividend date? Jan. 5 Apг. 5 July 5 Oct. 5 unding common shares
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-$5 par value, 100,000 shares authorized, 35,00a shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings $175,000 135,000 340, 000 Total stockholders' equity S650, 000 stockholders' Equity (December 31) Common stock-S5 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 ($48,000 restricted by treasury stock) $206, e00 166, 000 420, 000 792,e00 (40,e00) Less cost of treasury stock Total stockholders' equity $752,000 The following transactions and events affected Its equity during the year. Jan. 5 Declared a se.40 per share cash dividend, date of record January 18. Mar. 20 Purchased treasury stock for cash. Apr. 5 Declared a se.40 per share cash dividend, date of record April 1e. July 5 Declared a se.40 per share cash dividend, date of record July 1e. July 31 Declared a 20% stock dividend when the stock's market value was $1e per share. Aug. 14 Issued the stock dividend that was declared on July 31. oct. 5 Declared a se.40 per share cash dividend, date of record october 10. red: w many common shares are outstanding on each cash dividend date? Jan. 5 Apг. 5 July 5 Oct. 5 unding common shares
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter21: Corporations: Taxes, Earnings, Distributions, And The Statement Of Retained Earnings
Section: Chapter Questions
Problem 11SPA
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![Requlred 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)
Common stock-$5 par value, 100, e00 shares
authorized, 35, 000 shares issued and outstanding
Paid-in capital in excess of par value, common stock
Retained earnings
$175,000
135,000
340,000
$650, 000
Total stockholders' equity
stockholders' Equity (December 31)
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
166,000
420, 000
792,000
(40,000)
Less cost of treasury stock
Total stockholders' equity
$752, 000
The following transactions and events affected Its equity during the year.
Jan.
5 Declared a se.40 per shar
cash dividend, date of record January 18.
Mar. 20 Purchased treasury stock for cash.
Apr.
July 5 Declared a se.40 per share cash dividend, date of record July 10.
July 31 Declared a 20% stock dividend when the stock's market value was $1e per share.
Aug. 14 Issued the stock dividend that was declared on July 31.
Oct. 5 Declared a se.40 per share cash dividend, date of record october 10.
5 Declared a se.40 per share cash dividend, date of record April 18e.
Required:
1. How many common shares are outstanding on each cash dividend date?
Jan. 5
Apr. 5
July 5
Oct. 5
Outstanding common shares](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4726056b-a0d8-4167-a534-8f03670a441a%2F0bc3b7d5-1cd9-4f28-ba32-0567c5325bd3%2F4hrdcr_processed.png&w=3840&q=75)
Transcribed Image Text:Requlred 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)
Common stock-$5 par value, 100, e00 shares
authorized, 35, 000 shares issued and outstanding
Paid-in capital in excess of par value, common stock
Retained earnings
$175,000
135,000
340,000
$650, 000
Total stockholders' equity
stockholders' Equity (December 31)
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
166,000
420, 000
792,000
(40,000)
Less cost of treasury stock
Total stockholders' equity
$752, 000
The following transactions and events affected Its equity during the year.
Jan.
5 Declared a se.40 per shar
cash dividend, date of record January 18.
Mar. 20 Purchased treasury stock for cash.
Apr.
July 5 Declared a se.40 per share cash dividend, date of record July 10.
July 31 Declared a 20% stock dividend when the stock's market value was $1e per share.
Aug. 14 Issued the stock dividend that was declared on July 31.
Oct. 5 Declared a se.40 per share cash dividend, date of record october 10.
5 Declared a se.40 per share cash dividend, date of record April 18e.
Required:
1. How many common shares are outstanding on each cash dividend date?
Jan. 5
Apr. 5
July 5
Oct. 5
Outstanding common shares
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