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) $ 140,000 130,000 440,000 710,000 (50,000) $ 660,000 Common stock-$4 par value, 100,000 shares authorized, 30,000 shares issued and outstanding Paid-in capital in excess of par value, common stock $ 120,000 80,000 340,000 $ 540,000 Retained earnings Total stockholders' equity Stockholders' Equity (December 31) Common stock-$4 par value, 100,000 shares authorized, 35,000 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. Purchased treasury stock for cash. March 20 April 5 July 5 July 31 August 14 October 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. Declared a 20% stock dividend when the stock's market value was $14 per share. Issued the stock dividend that was declared on July 31. Declared a $0.40 per share cash dividend, date of record October 10. 3. What is the amount of retained earnings transferred to paid-in capital accounts (capitalized) for the stock dividend? Capitalization amount
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) $ 140,000 130,000 440,000 710,000 (50,000) $ 660,000 Common stock-$4 par value, 100,000 shares authorized, 30,000 shares issued and outstanding Paid-in capital in excess of par value, common stock $ 120,000 80,000 340,000 $ 540,000 Retained earnings Total stockholders' equity Stockholders' Equity (December 31) Common stock-$4 par value, 100,000 shares authorized, 35,000 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. Purchased treasury stock for cash. March 20 April 5 July 5 July 31 August 14 October 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. Declared a 20% stock dividend when the stock's market value was $14 per share. Issued the stock dividend that was declared on July 31. Declared a $0.40 per share cash dividend, date of record October 10. 3. What is the amount of retained earnings transferred to paid-in capital accounts (capitalized) for the stock dividend? Capitalization amount
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Haresh
![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)
$ 140,000
130,000
440,000
710,000
(50,000)
$ 660,000
Common stock-$4 par value, 100,000 shares authorized, 30,000 shares issued and outstanding
Paid-in capital in excess of par value, common stock
$ 120,000
80,000
340,000
$ 540,000
Retained earnings
Total stockholders' equity
Stockholders' Equity (December 31)
Common stock-$4 par value, 100,000 shares authorized, 35,000 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.
Purchased treasury stock for cash.
March 20
April 5
July 5
July 31
August 14
October 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.
Declared a 20% stock dividend when the stock's market value was $14 per share.
Issued the stock dividend that was declared on July 31.
Declared a $0.40 per share cash dividend, date of record October 10.
3. What is the amount of retained earnings transferred to paid-in capital accounts (capitalized) for the stock dividend?
Capitalization amount](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F2e17af40-49de-4efd-a939-c0efd2014ca3%2F633767e5-cc9e-44bc-9a7a-ffbea1b6e146%2Fehzo0kx_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)
$ 140,000
130,000
440,000
710,000
(50,000)
$ 660,000
Common stock-$4 par value, 100,000 shares authorized, 30,000 shares issued and outstanding
Paid-in capital in excess of par value, common stock
$ 120,000
80,000
340,000
$ 540,000
Retained earnings
Total stockholders' equity
Stockholders' Equity (December 31)
Common stock-$4 par value, 100,000 shares authorized, 35,000 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.
Purchased treasury stock for cash.
March 20
April 5
July 5
July 31
August 14
October 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.
Declared a 20% stock dividend when the stock's market value was $14 per share.
Issued the stock dividend that was declared on July 31.
Declared a $0.40 per share cash dividend, date of record October 10.
3. What is the amount of retained earnings transferred to paid-in capital accounts (capitalized) for the stock dividend?
Capitalization amount
AI-Generated Solution
AI-generated content may present inaccurate or offensive content that does not represent bartleby’s views.
Unlock instant AI solutions
Tap the button
to generate a solution
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