512 of 5BookIntencesStockholders' Equity (December 31)Common stock-$5 par value, 100,000 shares authorized, 41,400 shares issued, 3,000 shares intreasuryPaid-in capital in excess of par value, common stockRetained earnings ($40,000 restricted by treasury stock)Less cost of treasury stockTotal stockholders' equityThe following transactions and events affected its equity during the year.January 5March 20April 5July 5July 31August 14October 5Declared a $0.50 per share cash dividend, date of record January 10.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.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.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?Cash dividend amountsJanuary 5April 5July 5< PrevOctober 5S5 6 7 8of 12▬▬▬▬▬▬$207,000179,800420,000806,800(40,000$ 766,89€Next > 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) followStockholders' Equity (January 1)Common stock-$5 par value, 100,000 shares authorized, 35,000 shares issued andoutstandingPaid-in capital in excess of par value, common stockRetained earningsTotal stockholders' equityStockholders' Equity (December 31)Common stock-$5 par value, 100,000 shares authorized, 41,400 shares issued, 3,000 shares intreasuryPaid-in capital in excess of par value, common stockRetained earnings ($40,000 restricted by treasury stock)Less cost of treasury stockTotal stockholders' equityThe 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.March 20 Purchased treasury stock for cash.April 5 Declared a $0.50 per share cash dividend, date of record April 10.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 $12 per share.August 14 Issued the stock dividend that was declared on July 31.October 5 Declared a $0.50 per share cash dividend, date of record October 10.< PrevS5 6 78of 12$ 175,000135,000340,000$ 650,000‒‒‒$ 207,000179,800420,000806,800(40,000)$766,800Next >

The treasury stock comprises the shares that are purchased by the company from its shareholders. The…

Answered: Stockholders' Equity (December 31)…

FINANCIAL ACCOUNTING

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ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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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 Paid-in capital in excess of par value, common stock Retained earnings $150,000 110,000 340,000 $600,000 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 ($50,000 restricted by treasury stock) $177,000 137,000 400,000 714,000 (50,000) $664, 000 Less cost of treasury stock Total stockholders' equity The 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 $0.50 per share cash dividend, date of record April 10.
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CYCLONE, INC. Statement of Stockholders' Equity Year ended Dec. 31, 2021 Common Stock Total Stockholders' Retained Earnings Equity Beginning balance Issuances of stock Add: Net income Less: Dividends 2$ 13,000 $ 6,000 $ 19,000 4,000 4,000 Ending balance 2$ 15,000 $ 7,000 $ 22,000
Journalize the following selected transactions completed during the current fiscal year: Date Transaction February 1 The board of directors declared a stock split that reduced the par of common shares from $100 to $20. This action increased the number of outstanding shares to 500,000. February 11 Purchased 25,000 shares of the company's own stock at $44, recording the treasury stock at cost. May 1 Declared a dividend of $2.50 per share on the outstanding shares of common stock. May 15 Paid the dividend declared on May 1. October 19 Declared a 2% stock dividend on the common stock outstanding (the fair market value of the stock to be issued is $55). November 12 Issued the certificates for the common stock dividend declared on October 19. If no entry is required, select "No Entry Required" and leave the amount boxes blank. If an amount box does not require an entry, leave it blank.
Stockholders’ Equity: Transactions and Balance Sheet Presentation Beaker Corporation was organized on July 1, with an authorization of 50,000 shares of $5 no-par value preferred stock ($5 is the annual dividend) and 100,000 shares of $10 par value common stock. During July, the following transactions affecting stockholders’ equity occurred: July 1 Issued 31,000 shares of common stock at $21 cash per share. 12 Issued 3,500 shares of common stock in exchange for equipment with a fair market value of $71,000. 15 Issued 5,000 shares of preferred stock for cash at $40 per share. Required a. Prepare journal entries to record the foregoing transactions. General Journal Date Description Debit Credit Jul.01 Paid-in-Capital in Excess of Par Value - Common Stock Issued shares of common stock. Jul.12 Common Stock Issued common stock for equipment. Jul.15…
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Journalizing issuance of stock Steller Systems completed the following stock issuance transactions: Requirements Journalize the transactions. Explanations are not required. How much paid-in capital did these transactions generate for Steller Systems?
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…
Treasury Shares On October 10, the capital of the shareholders (stockholders' equity) of Sherman Systems, Inc. it consisted of the following: Common stock–$10 par value, 72,000 shares authorized, issued, and outstanding $ 720,000 Paid-in capital in excess of par value, common stock 216,000 Retained earnings 864,000 Total stockholders’ equity $ 1,800,000 Prepare the daily entries to record the following transactions: October 11 – Sherman Systems purchased 5,000 of its own common stock at a price of $25 per share. November 1 – Sherman Systems sold 1,000 of its shares in treasury stock at a price of $31 per share. November 25 – Sherman Systems sold the remaining shares in treasury at a price of $20 per share.
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Company E reports the following stockholders' equity: Common Stock, 100,000 authorized, 30,000 issued, $3 par ? Paid-In Common Stock 93,000 Less: Treasury Stock, 5000 shares (15,000) Retained Earnings 40,000 Assume that Company E pays a $1 per share dividend to its common shareholders. What would be the ending balance in Retained Earnings after the dividend was paid?

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