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-$6 par value, 100,000 shares authorized, 35,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 210,000 170,000 360,000 $ 740,000 Stockholders' Equity (December 31) Common stock-$6 par value, 100,000 shares authorized, 41,400 shares issued, 3,000 shares in treasury Paid-in capital in excess of par value, common stock $ 248,400 195,600
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-$6 par value, 100,000 shares authorized, 35,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 210,000 170,000 360,000 $ 740,000 Stockholders' Equity (December 31) Common stock-$6 par value, 100,000 shares authorized, 41,400 shares issued, 3,000 shares in treasury Paid-in capital in excess of par value, common stock $ 248,400 195,600
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text: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-$6 par value, 100,000 shares authorized, 35,000 shares issued and
outstanding
Paid-in capital in excess of par value, common stock
Retained earnings
Total stockholders' equity
Stockholders' Equity (December 31)
Common stock-$6 par value, 100,000 shares authorized, 41,400 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 $0.40 per share cash dividend, date of record January 10.
March 20 Purchased treasury stock for cash.
April 5
July 5
July 31
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 18.
Declared a 20% stock dividend when the stock's market value was $10 per share.
Issued the stock dividend that was declared on July 31.
August 14
October 5
Declared a $0.40 per share cash dividend, date of record October 10.
Required:
1. How many common shares are outstanding on each cash dividend date?
Outstanding common shares
January 5
35,000
April 5
32,000
July 5
32,000
October 5
38.400
$ 210,000
170,000
360,000
$ 740,000
$ 248,400
195,600
420,000
864,000
(60,000)
$ 804,000

Transcribed Image Text:Cash dividend amounts
Show Transcribed Text
January 5
apitalization amount
Show Transcribed Text
What is the amount of retained earnings transferred to paid-in capital accounts (capitalized) for the stock dividend?
ost per share
April 5
What is the per share cost of the treasury stock purchased?
ote: Round your answer to 2 decimal places.
Net income
July 5
October 5
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