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-$4 par value, 100,000 shares authorized, 40,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 160,000 120,000 320,000 $ 600,000 Stockholders' Equity (December 31) Common stock-$4 par value, 100,000 shares authorized, 47,400 shares issued, 3,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($30,000 restricted by treasury stock) Less cost of treasury stock Total stockholders' equity $189,600 179,200 400,000 768,800 (30,000) $738,800 The following transactions and events affected its equity during the year. Jan. 5 Declared a $0.50 per share cash dividend, payable on January 10. Mar. 20 Purchased treasury stock for cash. Apr. 5 Declared a $0.50 per share cash dividend, payable on April 10. July 5 Declared a $0.50 per share cash dividend, payable on July 10. July 31 Declared a 20% stock dividend when the stock's market value was $12 per share.
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-$4 par value, 100,000 shares authorized, 40,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 160,000 120,000 320,000 $ 600,000 Stockholders' Equity (December 31) Common stock-$4 par value, 100,000 shares authorized, 47,400 shares issued, 3,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($30,000 restricted by treasury stock) Less cost of treasury stock Total stockholders' equity $189,600 179,200 400,000 768,800 (30,000) $738,800 The following transactions and events affected its equity during the year. Jan. 5 Declared a $0.50 per share cash dividend, payable on January 10. Mar. 20 Purchased treasury stock for cash. Apr. 5 Declared a $0.50 per share cash dividend, payable on April 10. July 5 Declared a $0.50 per share cash dividend, payable on July 10. July 31 Declared a 20% stock dividend when the stock's market value was $12 per share.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Please don't give image format
Transcribed Image Text:Aug. 14 Issued the stock dividend that was declared on July 31.
Oct. 5 Declared a $0.50 per share cash dividend, date of record October 10.
Requirement
General
Journal
View transaction list
1
Journal entry worksheet
General
Ledger
The following transactions and events affected its equity during the year. Prepare the journal en
event, and then agree the year-end balances with the December 31 Stockholders' Equity statement
2
3
Trial Balance
Note: Enter debits before credits.
Cash
Dividends
Stock Dividend
Declared a $0.50 per share cash dividend, payable on January 10.
4 5 6 7 8
12
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-$4 par value, 100,000 shares
authorized, 40,000 shares issued and outstanding
Paid-in capital in excess of par value, common stock
Retained earnings
Total stockholders' equity
$ 160,000
120,000
320,000
$ 600,000
Stockholders' Equity (December 31)
Common stock-$4 par value, 100,000 shares
authorized, 47,400 shares issued, 3,000 shares in treasury
Paid-in capital in excess of par value, common stock
Retained earnings ($30,000 restricted by treasury stock)
Less cost of treasury stock
Total stockholders' equity
$189,600
179,200
400,000
768,800
(30,000)
$738,800
The following transactions and events affected its equity during the year.
Jan. 5 Declared a $0.50 per share cash dividend, payable on January 10.
Mar. 20 Purchased treasury stock for cash.
Apr. 5 Declared a $0.50 per share cash dividend, payable on April 10.
July 5 Declared a $0.50 per share cash dividend, payable on July 10.
July 31 Declared a 20% stock dividend when the stock's market value was $12 per share.
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