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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 Total stockholders' equity Stockholders' Equity (December 31) Common stock-$4 par value, 100,000 shares authorized, 47,000 shares issued, 5,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($50,000 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 $0.40 per share cash dividend, date of record January 10. March 20 Purchased treasury stock for cash. 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. April 5 July 5 July 31 August 14 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. October 5 Declared a $0.40 per share cash dividend, date of record October 10. Problem 13-4A (Algo) Part 1 $ 160,000 120,000 340,000 $ 620,000 Required: 1. How many common shares are outstanding on each cash dividend date? $ 188,000 176,000 400,000 764,000 (50,000) $ 714,000

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 Total stockholders' equity Stockholders' Equity (December 31) Common stock-$4 par value, 100,000 shares authorized, 47,000 shares issued, 5,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($50,000 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 $0.40 per share cash dividend, date of record January 10. March 20 Purchased treasury stock for cash. 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. April 5 July 5 July 31 August 14 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. October 5 Declared a $0.40 per share cash dividend, date of record October 10. Problem 13-4A (Algo) Part 1 $ 160,000 120,000 340,000 $ 620,000 Required: 1. How many common shares are outstanding on each cash dividend date? $ 188,000 176,000 400,000 764,000 (50,000) $ 714,000

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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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 Total stockholders' equity Stockholders' Equity (December 31) Common stock-$4 par value, 100,000 shares authorized, 47,000 shares issued, 5,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($50,000 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 $0.40 per share cash dividend, date of record January 10. March 20 Purchased treasury stock for cash. April 5 July 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. July 31 Declared a 20% stock dividend when the stock's market value was $12 per share. 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. Problem 13-4A (Algo) Part 1 Required: 1. How many common shares are outstanding on each cash dividend date? Outstanding common shares January 5 April 5 < Prev July 5 4 5 S 6 October 5 8 160,000 120,000 340,000 $ 620,000 of 10 Next > $ 188,000 176,000 400,000 764,000 (50,000) $ 714,000
Transcribed Image Text: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 Total stockholders' equity Stockholders' Equity (December 31) Common stock-$4 par value, 100,000 shares authorized, 47,000 shares issued, 5,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($50,000 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 $0.40 per share cash dividend, date of record January 10. March 20 Purchased treasury stock for cash. April 5 July 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. July 31 Declared a 20% stock dividend when the stock's market value was $12 per share. 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. Problem 13-4A (Algo) Part 1 Required: 1. How many common shares are outstanding on each cash dividend date? Outstanding common shares January 5 April 5 < Prev July 5 4 5 S 6 October 5 8 160,000 120,000 340,000 $ 620,000 of 10 Next > $ 188,000 176,000 400,000 764,000 (50,000) $ 714,000
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