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, 100,0e0 shares authorized, 35,ee0 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings $175,000 135,eee 340, 000 Total stockholders' equity $650,000 stockholders' Equity (December 31) Common stock-$5 par value, 100, e00 shares authorized, 41, 200 shares issued, 4,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($40,00 restricted by treasury stock) $206, e00 166,000 420, e00 792, e00 (40,000) $752,e00 Less cost of treasury stock Total stockholders' equity The following transactions and events affected Its equity during the year. Jan. 5 Declared a se.40 per share cash dividend, date of record January 1e. Mar. 20 Purchased treasury stock for cash. Apr. 5 Declared a se.40 per share cash dividend, date of record April 1e. July 5 Declared a se.40 per share cash dividend, date of record July 1e. July 31 Declared a 20% stock dividend when the stock's market value was $1e per share. Aug. 14 Issued the stock dividend that was declared on July 31. Oct. 5 Declared a se.40 per share cash dividend, date of record october 10. hat Is the amount of retalned earnings transferred to pald-in capital accounts (capitalized) for the stock div talization amount
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, 100,0e0 shares authorized, 35,ee0 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings $175,000 135,eee 340, 000 Total stockholders' equity $650,000 stockholders' Equity (December 31) Common stock-$5 par value, 100, e00 shares authorized, 41, 200 shares issued, 4,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($40,00 restricted by treasury stock) $206, e00 166,000 420, e00 792, e00 (40,000) $752,e00 Less cost of treasury stock Total stockholders' equity The following transactions and events affected Its equity during the year. Jan. 5 Declared a se.40 per share cash dividend, date of record January 1e. Mar. 20 Purchased treasury stock for cash. Apr. 5 Declared a se.40 per share cash dividend, date of record April 1e. July 5 Declared a se.40 per share cash dividend, date of record July 1e. July 31 Declared a 20% stock dividend when the stock's market value was $1e per share. Aug. 14 Issued the stock dividend that was declared on July 31. Oct. 5 Declared a se.40 per share cash dividend, date of record october 10. hat Is the amount of retalned earnings transferred to pald-in capital accounts (capitalized) for the stock div talization amount
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![Requlred Informatlon
[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, 35, 000 shares issued and outstanding
Paid-in capital in excess of par value, common stock
Retained earnings
$175,000
135,000
340,000
Total stockholders' equity
$650,000
Stockholders' Equity (December 31)
Common stock-$5 par value, 100,000 shares
authorized, 41, 200 shares issued, 4,000 shares in treasury
Paid-in capital in excess of par value, common stock
Retained earnings ($40,000 restricted by treasury stock)
$206, 000
166,000
420,000
792,000
(40,000)
$752, 000
Less cost of treasury stock
Total stockholders' equity
The following transactions and events affected Its equity during the year.
5 Declared a Sse.40 per share cash dividend, date of record January 18.
Jan.
Mar. 20 Purchased treasury stock for cash.
Apr. 5 Declared a se.40 per share cash dividend, date of record April 18.
July 5 Declared a se.40 per share cash dividend, date of record July 10.
July 31 Declared a 20% stock dividend when the stock's market value was $1e per share.
Aug. 14 Issued the stock dividend that was declared on July 31.
Oct. 5 Declared a se.40 per share cash dividend, date of record october 10.
3. What is the amount of retalned earnings transferred to pald-in capital accounts (capitalized) for the stock dividend?
Capitalization amount](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4726056b-a0d8-4167-a534-8f03670a441a%2F4f11df88-b22c-4cf5-9c9f-f5984b759267%2Fkv61zlk_processed.png&w=3840&q=75)
Transcribed Image Text:Requlred Informatlon
[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, 35, 000 shares issued and outstanding
Paid-in capital in excess of par value, common stock
Retained earnings
$175,000
135,000
340,000
Total stockholders' equity
$650,000
Stockholders' Equity (December 31)
Common stock-$5 par value, 100,000 shares
authorized, 41, 200 shares issued, 4,000 shares in treasury
Paid-in capital in excess of par value, common stock
Retained earnings ($40,000 restricted by treasury stock)
$206, 000
166,000
420,000
792,000
(40,000)
$752, 000
Less cost of treasury stock
Total stockholders' equity
The following transactions and events affected Its equity during the year.
5 Declared a Sse.40 per share cash dividend, date of record January 18.
Jan.
Mar. 20 Purchased treasury stock for cash.
Apr. 5 Declared a se.40 per share cash dividend, date of record April 18.
July 5 Declared a se.40 per share cash dividend, date of record July 10.
July 31 Declared a 20% stock dividend when the stock's market value was $1e per share.
Aug. 14 Issued the stock dividend that was declared on July 31.
Oct. 5 Declared a se.40 per share cash dividend, date of record october 10.
3. What is the amount of retalned earnings transferred to pald-in capital accounts (capitalized) for the stock dividend?
Capitalization amount
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.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