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 sharesauthorized, 30,000 shares issued and outstandingPaid-in capital in excess of par value, common stockRetained earnings$150,000110,000340,000$600,000Total stockholders' equityStockholders’ Equity (December 31)Common stock-$5 par value, 100,000 sharesauthorized, 35,400 shares issued, 3,000 shares in treasuryPaid-in capital in excess of par value, common stockRetained earnings ($50,000 restricted by treasury stock)$177,000137,000400,000714,000(50,000)$664, 000Less cost of treasury stockTotal stockholders' equityThe 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. Common stock-$5 par value, 100,000 sharesauthorized, 35,400 shares issued, 3,000 shares in treasuryPaid-in capital in excess of par value, common stockRetained earnings ($50,000 restricted by treasury stock)$177,000137,000400,000714,000(50,000)$664,000Less cost of treasury stockTotal stockholders' equityThe 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.July 5 Declared a $0.50 per share cash dividend, date of record July 10.July 31 Declared a 20% stock dividend when the stock's market value was $10 per share.Aug. 14 Issued the stock dividend that was declared on July 31.5 Declared a $0.50 per share cash dividend, date of record April 10.Oct.5 Declared a $0.50 per share cash dividend, date of record October 10.2. What is the total dollar amount for each of the four cash dividends?Jan. 5Apr. 5July 5Oct. 5Cash dividend amounts

The cash dividend is paid to the issued and outstanding shares.

follow. Stockholders' Equity (January 1) Common stock-$5 par value, 100,000 shares authorized, 30,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings $150,000 110,е0ө 340,000 Total stockholders' equity $600,000 Stockholders' Equity (December 31) Common stock-$5 _par value, 100,000 shares authorized, 35,400 shares issued, 3,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($50,000 restricted by treasury stock) $177,000 137,000 400,000 714,000 (50,000) Less cost of treasury stock Total stockholders’ equity $664,000 The following transactions and events affected its equity during the year. 5 Declared a $0.50 per share cash dividend, date of record January 10. 20 Purchased treasury stock for cash Jan. Mar

follow. Stockholders' Equity (January 1) Common stock-$5 par value, 100,000 shares authorized, 30,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings $150,000 110,е0ө 340,000 Total stockholders' equity $600,000 Stockholders' Equity (December 31) Common stock-$5 _par value, 100,000 shares authorized, 35,400 shares issued, 3,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($50,000 restricted by treasury stock) $177,000 137,000 400,000 714,000 (50,000) Less cost of treasury stock Total stockholders’ equity $664,000 The following transactions and events affected its equity during the year. 5 Declared a $0.50 per share cash dividend, date of record January 10. 20 Purchased treasury stock for cash Jan. Mar

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Godo
Following is the stockholders' equity section as of June 30. Common stock-$20 par value, 200,000 shares authorized, 80,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity On July 1, the directors declare a 5% stock dividend distributable on July 31 to the July 18 stockholders of record. The stock's market value is $50 per share on July 1 before the stock dividend. 1. Prepare entries to record both the dividend declaration and its distribution. 2. Prepare the stockholders' equity section after the stock dividend is distributed. (Assume no other changes to equity.) Enter answers in the tabs below. Required 1 Required 2 $ 1,600,000 400,000 750,000 $ 2,750,000 Prepare the stockholders' equity section after the stock dividend is distributed. (Assume no other changes to equity.) Stockholders' Equity Section of the Balance Sheet July 31 Retained earnings Common stock Paid-in capital in excess of par value, common…
The stockholders’ equity section of Creighton Company’s balance sheet is shown as follows: CREIGHTON COMPANY As of December 31, Year 3 Stockholders’ equity Preferred stock, $10 stated value, 7% cumulative,300 shares authorized, 50 issued and outstanding $ 500 Common stock, $10 par value, 250 shares authorized,100 issued and outstanding 1,000 Common stock, class B, $20 par value, 400 sharesauthorized, 150 issued and outstanding 3,000 Common stock, no par, 150 shares authorized,100 issued and outstanding 2,200 Paid-in capital in excess of stated value—preferred 600 Paid-in capital in excess of par value—common 1,200 Paid-in capital in excess of par value—class B common 750 Retained earnings 7,000 Total stockholders’ equity $ 16,250 Requireda. Assuming the preferred stock was originally issued for cash, determine the amount of cash collected when the stock was issued.b. Based on the class B common stock alone,…
Danger
Stockholders’ Equity (January 1) Common stock—$6 par value, 100,000 sharesauthorized, 30,000 shares issued and outstanding $ 180,000 Paid-in capital in excess of par value, common stock 140,000 Retained earnings 360,000 Total stockholders’ equity $ 680,000 Stockholders’ Equity (December 31) Common stock—$6 par value, 100,000 sharesauthorized, 35,200 shares issued, 4,000 shares in treasury $ 211,200 Paid-in capital in excess of par value, common stock 171,200 Retained earnings ($40,000 restricted by treasury stock) 420,000 802,400 Less cost of treasury stock (40,000 ) Total stockholders’ equity $ 762,400 The following transactions and events affected its equity during the year. Jan. 5 Declared a $0.40 per share cash dividend, date of record January 10. Mar. 20 Purchased treasury stock for cash. Apr. 5 Declared a $0.40 per share cash dividend, date of record April 10.…
Stockholders' Equity: Transactions and StatementThe stockholders' equity section of Night Corporation's balance sheet at January 1 follows: Common stock, $6 par value, 300,000 shares authorized, 60,000 shares 360,000 issued, 6,000 shares in treasury Additional paid-in capital In excess of par value 600,000 From treasury stock 37,500 637,500 Retained earnings 435,000 1,432,500 Less: Treasury stock (6,000 shares) at cost 172,500 Total Stockholdersâ€™ Equity 1,260,000 The following transactions affecting stockholdersâ€™ equity occurred during the year: Jan. 8 Issued 15,000 shares of previously unissued common stock for $26 cash per share. Mar. 12 Sold all of the treasury shares for $35 cash per share. June 30 Declared a five percent stock dividend on all outstanding shares of common stock. The market value of the stock was $31 per share. July 10 Issued the stock dividend declared on June 30. Oct. 7 Acquired 2,500 shares of common…
Reporting Stockholders' Equity Using the following accounts and balances, prepare the “Stockholders’ Equity” section of the balance sheet. 70,000 shares of common stock authorized, and 1,000 shares have been reacquired. Common Stock, $80 par $4,480,000 Paid-In Capital from Sale of Treasury Stock 90,000 Paid-In Capital in Excess of Par—Common Stock 784,000 Retained Earnings 2,330,000 Treasury Stock 60,000 Balance Sheet Stockholders' Equity Paid-in capital: $fill in the blank 2 fill in the blank 4 Paid-in capital, common stock $fill in the blank 5 fill in the blank 7 Total paid-in capital $fill in the blank 8 fill in the blank 10 Total $fill in the blank 11 fill in the blank 13 Total stockholders' equity $fill in the blank 14
Stockholders' Equity: Transactions and StatementThe stockholders' equity section of Night Corporation's balance sheet at January 1 follows: Common stock, $3 par value, 300,000 shares authorized, 60,000 shares 180,000 issued, 6,000 shares in treasury Additional paid-in capital In excess of par value 240,000 From treasury stock 15,000 255,000 Retained earnings 174,000 609,000 Less: Treasury stock (6,000 shares) at cost 69,000 Total Stockholdersâ€™ Equity 540,000 The following transactions affecting stockholdersâ€™ equity occurred during the year: Jan. 8 Issued 15,000 shares of previously unissued common stock for $10 cash per share. Mar. 12 Sold all of the treasury shares for $14 cash per share. June 30 Declared a five percent stock dividend on all outstanding shares of common stock. The market value of the stock was $12 per share. July 10 Issued the stock dividend declared on June 30. Oct. 7 Acquired 2,500 shares of common…
The stockholders’ equity of Cyclone Corporation at January 1 follows: 6 Percent preferred stock, $10 par value, 40,000 shares authorized; 25,000 shares issued and outstanding $250,000 Common stock, $1 par value, 300,000 shares authorized; 80,000 shares issued and outstanding 80,000 Paid-in capital in excess of par value—Common stock 560,000 Retained earnings 830,000 Total Stockholders’ Equity $1,720,000 The following transactions, among others, occurred during the year: June 18 Declared a 60 percent stock dividend on all outstanding shares of common stock. The market value of the stock was $14 per share. July 1 Issued the stock dividend declared on June 18. Dec. 20 Declared the annual cash dividend on the preferred stock and a cash dividend of $1.60 per share on the common stock, payable on January 20 to stockholders of record on December 28. Required a. Prepare journal entries to record the foregoing transactions. General Journal Date…
Using the following accounts and balances, prepare the “Stockholders' Equity" section of the balance sheet. 20,000 shares of common stoCk authorized, and 10,000 shares have been reacquired. Common Stock, $80 par $1,120,000 Paid-In Capital from Sale of Treasury Stock 45,000 Paid-In Capital in Excess of Par-Common Stock 168,000 Retained Earnings 661,000 Treasury Stock 23,000 Balance Sheet Stockholders' Equity Paid-in capital: Paid-in capital, common stock $ Total paid-in capital Total Total stockholders'eauity.
The stockholders' equity section on the December 31 balance sheet of Chemfast Corporation reported the following amounts: Contributed Capital Preferred Stock (par $20; authorized 10,000 shares, ? issued, of which 1,000 shares are held as treasury stock) Additional Paid-In Capital, Preferred Common Stock (no-par; authorized 20,000 shares, issued and outstanding 6,200 shares) Retained Earnings Treasury Stock, 1,000 Preferred shares at cost $108,000 15,390 632,400 32,000 (9,600) Assume that no shares of treasury stock have been sold in the past. Required: Complete the following statements. (Decreases should be indicated by a minus sign. Round per share to 2 decimal places.) 1. The number of shares of preferred stock issued was 2. The number of shares of preferred stock outstanding was 3. The average issue price of the preferred stock was per share 4. The average issue price of the common stock was 5. The treasury stock transaction increased (decreased) stockholders' equity by 6. The…
The stockholders’ equity section of Day Corporation’s balance sheet at January 1 follows: Common stock, $10 par value, 200,000 shares authorized,27,000 shares $270,000 issued, 8,000 shares are in the treasury Additional paid-in capital In excess of par value $315,000 From treasury stock 18,000 333,000 Retained earnings 298,000 901,000 Less: Treasury stock (8,000 shares) at cost 208,000 Total Stockholders' Equity $693,000 The following transactions affecting stockholders’ equity occurred during the year: Jan. 8 Issued 10,000 shares of previously unissued common stock for $27 cash per share. Mar. 12 Sold all of the treasury shares for $30 cash per share. June 30 Declared a six percent stock dividend on all outstanding shares of common stock. The market value of the stock was $40 per share. July 10 Issued the stock dividend declared on June 30. Oct. 7 Acquired 1,500 shares of common stock as treasury stock at $32 cash per share.…