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1 15 points Mc Stockholders' Equity (January 1) Common stock-$4 par value, 150,000 shares authorized, 60,000 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-$4 par value, 150,000 shares authorized, 68,800 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) Less cost of treasury stock Total stockholders' equity The following transactions and events affected its equity during the year. January 5 Declared a $2.20 per share cash dividend, payable on January 10. $ 240,000 36,000 200,000 $ 476,000 $ 275,200 88,800 360,000 724,000 (40,000) $ 684,000 March 20 Purchased treasury stock for cash. April 5 Declared a $2.20 per share cash dividend, payable on April 10. July 5 Declared a $2.20 per share cash dividend, payable on July 10. July 31 Declared a 16% stock dividend when the stock's market value was $10 per share. August 14 Issued the stock dividend that was declared on July 31. October 5 Declared a $2.20 per share cash dividend, date of record October 10. Requirement General Journal General Ledger Trial Balance Cash Dividends Stock Dividend Calculate the amount of retained earnings to be capitalized as a result of the stock dividend. Capitalization of retained earnings due to stock dividend: Number of shares outstanding on July 30 Percentage of stock dividend Number of shares to be issued Amount to be capitalized per share Total amount to be capitalized Dates: January 01 to: January 01 < Cash Dividends Stack Dividend Deau Novt

1 15 points Mc Stockholders' Equity (January 1) Common stock-$4 par value, 150,000 shares authorized, 60,000 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-$4 par value, 150,000 shares authorized, 68,800 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) Less cost of treasury stock Total stockholders' equity The following transactions and events affected its equity during the year. January 5 Declared a $2.20 per share cash dividend, payable on January 10. $ 240,000 36,000 200,000 $ 476,000 $ 275,200 88,800 360,000 724,000 (40,000) $ 684,000 March 20 Purchased treasury stock for cash. April 5 Declared a $2.20 per share cash dividend, payable on April 10. July 5 Declared a $2.20 per share cash dividend, payable on July 10. July 31 Declared a 16% stock dividend when the stock's market value was $10 per share. August 14 Issued the stock dividend that was declared on July 31. October 5 Declared a $2.20 per share cash dividend, date of record October 10. Requirement General Journal General Ledger Trial Balance Cash Dividends Stock Dividend Calculate the amount of retained earnings to be capitalized as a result of the stock dividend. Capitalization of retained earnings due to stock dividend: Number of shares outstanding on July 30 Percentage of stock dividend Number of shares to be issued Amount to be capitalized per share Total amount to be capitalized Dates: January 01 to: January 01 < Cash Dividends Stack Dividend Deau Novt

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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1 15 points Mc Stockholders' Equity (January 1) Common stock-$4 par value, 150,000 shares authorized, 60,000 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-$4 par value, 150,000 shares authorized, 68,800 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) Less cost of treasury stock Total stockholders' equity The following transactions and events affected its equity during the year. January 5 Declared a $2.20 per share cash dividend, payable on January 10. $ 240,000 36,000 200,000 $ 476,000 $ 275,200 88,800 360,000 724,000 (40,000) $ 684,000 March 20 Purchased treasury stock for cash. April 5 Declared a $2.20 per share cash dividend, payable on April 10. July 5 Declared a $2.20 per share cash dividend, payable on July 10. July 31 Declared a 16% stock dividend when the stock's market value was $10 per share. August 14 Issued the stock dividend that was declared on July 31. October 5 Declared a $2.20 per share cash dividend, date of record October 10. Requirement General Journal General Ledger Trial Balance Cash Dividends Stock Dividend Calculate the amount of retained earnings to be capitalized as a result of the stock dividend. Capitalization of retained earnings due to stock dividend: Number of shares outstanding on July 30 Percentage of stock dividend Number of shares to be issued Amount to be capitalized per share Total amount to be capitalized Dates: January 01 to: January 01 < Cash Dividends Stack Dividend Deau Novt
Transcribed Image Text:1 15 points Mc Stockholders' Equity (January 1) Common stock-$4 par value, 150,000 shares authorized, 60,000 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-$4 par value, 150,000 shares authorized, 68,800 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) Less cost of treasury stock Total stockholders' equity The following transactions and events affected its equity during the year. January 5 Declared a $2.20 per share cash dividend, payable on January 10. $ 240,000 36,000 200,000 $ 476,000 $ 275,200 88,800 360,000 724,000 (40,000) $ 684,000 March 20 Purchased treasury stock for cash. April 5 Declared a $2.20 per share cash dividend, payable on April 10. July 5 Declared a $2.20 per share cash dividend, payable on July 10. July 31 Declared a 16% stock dividend when the stock's market value was $10 per share. August 14 Issued the stock dividend that was declared on July 31. October 5 Declared a $2.20 per share cash dividend, date of record October 10. Requirement General Journal General Ledger Trial Balance Cash Dividends Stock Dividend Calculate the amount of retained earnings to be capitalized as a result of the stock dividend. Capitalization of retained earnings due to stock dividend: Number of shares outstanding on July 30 Percentage of stock dividend Number of shares to be issued Amount to be capitalized per share Total amount to be capitalized Dates: January 01 to: January 01 < Cash Dividends Stack Dividend Deau Novt
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