2. What is the total dollar amount for each of the four cash dividends?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
100%
2. What is the total dollar amount for each of the four cash dividends?
![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)
Common stock-$4 par value, 100,000 shares authorized, 40,000 shares issued and
outstanding
Paid-in capital in excess of par value, common stock
Retained earnings
$160,000
120,000
320,000
$ 600,000
Total stockholders' equity
Stockholders' Equity (December 31)
Common stock-$4 par value, 100,000 shares authorized, 47,200 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)
$ 188,800
177,600
420,000
786,400
(40,000)
$ 746,400
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.
March 20 Purchased treasury stock for cash.
April 5 Declared a $0.40 per share cash dividend, date of record April 10.
July 5 Declared a $0. 40 per share cash dividend, date of record July 10.
July 31
August 14 Issued the stock dividend that was declared on July 31.
October 5 Declared a $0.40 per share cash dividend, date of record October 10.
Declared a 20% stock dividend when the stock's market value was $12 per share.
2. What is the total dollar amount for each of the four cash dividends?
January 5
April 5
July 5
October 5
Cash dividend amounts
< Prev
6
7
8 9
of 9
Next >
MacBook Air
80
DII
DD
F7
FB
F9
F2
F3
F4
F5
F6
#
$
&
3
4
6
7
8
E
T
Y
U
* 00](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8ea37998-1c84-42d7-b5a7-416d3ab84958%2Fba827a74-9f4b-490c-8529-f4906a306776%2F28g26ci_processed.jpeg&w=3840&q=75)
Transcribed Image Text: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)
Common stock-$4 par value, 100,000 shares authorized, 40,000 shares issued and
outstanding
Paid-in capital in excess of par value, common stock
Retained earnings
$160,000
120,000
320,000
$ 600,000
Total stockholders' equity
Stockholders' Equity (December 31)
Common stock-$4 par value, 100,000 shares authorized, 47,200 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)
$ 188,800
177,600
420,000
786,400
(40,000)
$ 746,400
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.
March 20 Purchased treasury stock for cash.
April 5 Declared a $0.40 per share cash dividend, date of record April 10.
July 5 Declared a $0. 40 per share cash dividend, date of record July 10.
July 31
August 14 Issued the stock dividend that was declared on July 31.
October 5 Declared a $0.40 per share cash dividend, date of record October 10.
Declared a 20% stock dividend when the stock's market value was $12 per share.
2. What is the total dollar amount for each of the four cash dividends?
January 5
April 5
July 5
October 5
Cash dividend amounts
< Prev
6
7
8 9
of 9
Next >
MacBook Air
80
DII
DD
F7
FB
F9
F2
F3
F4
F5
F6
#
$
&
3
4
6
7
8
E
T
Y
U
* 00
Expert Solution
Step 1
Cash dividends are declared according to the holding number of shares by each shareholder whereas stock dividends are declared according to the percentage of holdings by each stockholder.
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education