Required Information Problem 13-4A (Algo) Analyzing changes in stockholders' equity accounts LO C3, P2, P3 [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) Paid-in capital in excess of par value, common stock Common stock-$5 par value, 180,000 shares authorized, 30,000 shares issued and outstanding $ 150,000 110,000 320,000 $ 580,000 Retained earnings Total stockholders' equity 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 ($60,000 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 $0.50 per share cash dividend, date of record January 10. $ 177,000 158,600 420,000 755,600 (60,000) $ 695,600 March 20 Purchased treasury stock for cash. Declared a $0.50 per share cash dividend, date of record April 10. Declared a $0.50 per share cash dividend, date of record July 10. April 5 July 5 July 31 Declared a 20% stock dividend when the stock's market value was $14 per share. August 14 Issued the stock dividend that was declared on July 31. October 5 Declared a $0.50 per share cash dividend, date of record October 10. Problem 13-4A (Algo) Part 1 Required: How many common shares are outstanding on each cash dividend date? January 5 April 5 July 5 October 5
Required Information Problem 13-4A (Algo) Analyzing changes in stockholders' equity accounts LO C3, P2, P3 [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) Paid-in capital in excess of par value, common stock Common stock-$5 par value, 180,000 shares authorized, 30,000 shares issued and outstanding $ 150,000 110,000 320,000 $ 580,000 Retained earnings Total stockholders' equity 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 ($60,000 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 $0.50 per share cash dividend, date of record January 10. $ 177,000 158,600 420,000 755,600 (60,000) $ 695,600 March 20 Purchased treasury stock for cash. Declared a $0.50 per share cash dividend, date of record April 10. Declared a $0.50 per share cash dividend, date of record July 10. April 5 July 5 July 31 Declared a 20% stock dividend when the stock's market value was $14 per share. August 14 Issued the stock dividend that was declared on July 31. October 5 Declared a $0.50 per share cash dividend, date of record October 10. Problem 13-4A (Algo) Part 1 Required: How many common shares are outstanding on each cash dividend date? January 5 April 5 July 5 October 5
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter10: Stockholder's Equity
Section: Chapter Questions
Problem 57E: Outstanding Stock Lars Corporation shows the following information in the stockholders equity...
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![Required Information
Problem 13-4A (Algo) Analyzing changes in stockholders' equity accounts LO C3, P2, P3
[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-$5 par value, 100,000 shares authorized, 30,000 shares issued and
outstanding
$ 150,000
110,000
320,000
$ 580,000
Paid-in capital in excess of par value, common stock
Retained earnings
Total stockholders' equity
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 ($60,000 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 $0.50 per share cash dividend, date of record January 10.
$ 177,000
158,600
420,000
755,600
(60,000)
$ 695,600
March 20
Purchased treasury stock for cash.
Declared a $0.50 per share cash dividend, date of record April 10.
Declared a $0.50 per share cash dividend, date of record July 10.
April 5
July 5
July 31
Declared a 20% stock dividend when the stock's market value was $14 per share.
August 14 Issued the stock dividend that was declared on July 31.
October 5 Declared a $0.50 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?
January 5
April 5
July 5
October 5
Outstanding common shares
30,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fcdeb686f-b0eb-432d-9089-0a9ebe8e7d53%2F4d955664-1c31-45db-8660-0c73e934ac11%2Fextdt9_processed.png&w=3840&q=75)
Transcribed Image Text:Required Information
Problem 13-4A (Algo) Analyzing changes in stockholders' equity accounts LO C3, P2, P3
[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-$5 par value, 100,000 shares authorized, 30,000 shares issued and
outstanding
$ 150,000
110,000
320,000
$ 580,000
Paid-in capital in excess of par value, common stock
Retained earnings
Total stockholders' equity
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 ($60,000 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 $0.50 per share cash dividend, date of record January 10.
$ 177,000
158,600
420,000
755,600
(60,000)
$ 695,600
March 20
Purchased treasury stock for cash.
Declared a $0.50 per share cash dividend, date of record April 10.
Declared a $0.50 per share cash dividend, date of record July 10.
April 5
July 5
July 31
Declared a 20% stock dividend when the stock's market value was $14 per share.
August 14 Issued the stock dividend that was declared on July 31.
October 5 Declared a $0.50 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?
January 5
April 5
July 5
October 5
Outstanding common shares
30,000
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