The equity sections for Atticus Group at the beginning of theyear (January 1) and the end of the year (December 31) follow: Stockholders' equity (January 1) Common stock - $4 par value, 100,000 shares authorized, 40,000 shares issued and outstanding $ 160,000 Paid-in capital in excess of par value, common stock 120,000 Retained earnings 320,000 Total stockholders' equity $ 600,000 Stockholders' equity (December 31) Common stock - $4 par value, 100,000 shares authorized, 40,000 shares issued and outstanding $ 189,600 Paid-in capital in excess of par value, common stock 179,200 Retained earnings 400,000 768,800 Less cost of treasury stock (30,000) Total stockholders' equity $ 738,800 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 Decleared 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 $0.50 per share cash dividend, date of record October 10. Required: 1. How many common shares are ountstanding on each dividend date? Jan. 5 Apr. 5 Jul. 5 Oct. 5 Beginning Balance 40000 37000 37000 37000 Less Treasury -3000 0 0 0 Plus Dividend shares 0 0 0 7400 Common Shares Outstanding 37000 37000 37000 44400 2. What is the total dollar amount for each of the four cash dividends? Jan. 5 Apr. 5 Jul. 5 Oct. 5 Outstanding shares *Dividend Dividend Amoung

The equity sections for Atticus Group at the beginning of theyear (January 1) and the end of the year (December 31) follow: Stockholders' equity (January 1) Common stock - $4 par value, 100,000 shares authorized, 40,000 shares issued and outstanding $ 160,000 Paid-in capital in excess of par value, common stock 120,000 Retained earnings 320,000 Total stockholders' equity $ 600,000 Stockholders' equity (December 31) Common stock - $4 par value, 100,000 shares authorized, 40,000 shares issued and outstanding $ 189,600 Paid-in capital in excess of par value, common stock 179,200 Retained earnings 400,000 768,800 Less cost of treasury stock (30,000) Total stockholders' equity $ 738,800 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 Decleared 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 $0.50 per share cash dividend, date of record October 10. Required: 1. How many common shares are ountstanding on each dividend date? Jan. 5 Apr. 5 Jul. 5 Oct. 5 Beginning Balance 40000 37000 37000 37000 Less Treasury -3000 0 0 0 Plus Dividend shares 0 0 0 7400 Common Shares Outstanding 37000 37000 37000 44400 2. What is the total dollar amount for each of the four cash dividends? Jan. 5 Apr. 5 Jul. 5 Oct. 5 Outstanding shares *Dividend Dividend Amoung

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter20: Corporations: Organization And Capital Stock

Section: Chapter Questions

Problem 5SEA: STOCKHOLDERS EQUITY SECTION After closing its books on December 31, Pro Parts stockholders equity...

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The equity sections for Atticus Group at the beginning of theyear (January 1) and the end of the year (December 31) follow:
Stockholders' equity (January 1)
Common stock - $4 par value, 100,000 shares authorized, 40,000 shares issued and outstanding	$ 160,000
Paid-in capital in excess of par value, common stock	120,000
Retained earnings	320,000
Total stockholders' equity	$ 600,000

Stockholders' equity (December 31)
Common stock - $4 par value, 100,000 shares authorized, 40,000 shares issued and outstanding	$ 189,600
Paid-in capital in excess of par value, common stock	179,200
Retained earnings	400,000
	768,800
Less cost of treasury stock					(30,000)
Total stockholders' equity					$ 738,800

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	Decleared 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 $0.50 per share cash dividend, date of record October 10.

Required:
1. How many common shares are ountstanding on each dividend date?
	Jan. 5	Apr. 5	Jul. 5	Oct. 5
Beginning Balance	40000	37000	37000	37000
Less Treasury	-3000	0	0	0
Plus Dividend shares	0	0	0	7400
Common Shares Outstanding	37000	37000	37000	44400


2. What is the total dollar amount for each of the four cash dividends?
	Jan. 5	Apr. 5	Jul. 5	Oct. 5
Outstanding shares
*Dividend
Dividend Amoung

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