The equity sections for Atticus Group at the beginning of theyear (January 1) and the 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 $ 160,000 Paid-in capital in excess of par value, common stock 120,000 Retained earnings 320,000 Total stockholders' equity $ 600,000 Stockholders' equity (December 31) Common stock - $4 par value, 100,000 shares authorized, 40,000 shares issued and outstanding $ 189,600 Paid-in capital in excess of par value, common stock 179,200 Retained earnings 400,000 768,800 Less cost of treasury stock (30,000) Total stockholders' equity $ 738,800 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. July 5 Declared a $0.50 per share cash dividend, date of record July 10. July 31 Decleared a 20% stock dividend when the stock's market value was $12 per share 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. Required: 1. How many common shares are ountstanding on each dividend date? Jan. 5 Apr. 5 Jul. 5 Oct. 5 Beginning Balance 40000 37000 37000 37000 Less Treasury -3000 0 0 0 Plus Dividend shares 0 0 0 7400 Common Shares Outstanding 37000 37000 37000 44400 2. What is the total dollar amount for each of the four cash dividends? Jan. 5 Apr. 5 Jul. 5 Oct. 5 Outstanding shares *Dividend Dividend Amoung
The equity sections for Atticus Group at the beginning of theyear (January 1) and the 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 $ 160,000 Paid-in capital in excess of par value, common stock 120,000 Retained earnings 320,000 Total stockholders' equity $ 600,000 Stockholders' equity (December 31) Common stock - $4 par value, 100,000 shares authorized, 40,000 shares issued and outstanding $ 189,600 Paid-in capital in excess of par value, common stock 179,200 Retained earnings 400,000 768,800 Less cost of treasury stock (30,000) Total stockholders' equity $ 738,800 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. July 5 Declared a $0.50 per share cash dividend, date of record July 10. July 31 Decleared a 20% stock dividend when the stock's market value was $12 per share 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. Required: 1. How many common shares are ountstanding on each dividend date? Jan. 5 Apr. 5 Jul. 5 Oct. 5 Beginning Balance 40000 37000 37000 37000 Less Treasury -3000 0 0 0 Plus Dividend shares 0 0 0 7400 Common Shares Outstanding 37000 37000 37000 44400 2. What is the total dollar amount for each of the four cash dividends? Jan. 5 Apr. 5 Jul. 5 Oct. 5 Outstanding shares *Dividend Dividend Amoung
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
The equity sections for Atticus Group at the beginning of theyear (January 1) and the end of the year (December 31) follow: | ||||||||||
Common stock - $4 par value, 100,000 shares authorized, 40,000 shares issued and outstanding | $ 160,000 | |||||||||
Paid-in capital in excess of par value, common stock | 120,000 | |||||||||
Retained earnings | 320,000 | |||||||||
Total stockholders' equity | $ 600,000 | |||||||||
Stockholders' equity (December 31) | ||||||||||
Common stock - $4 par value, 100,000 shares authorized, 40,000 shares issued and outstanding | $ 189,600 | |||||||||
Paid-in capital in excess of par value, common stock | 179,200 | |||||||||
Retained earnings | 400,000 | |||||||||
768,800 | ||||||||||
Less cost of |
(30,000) | |||||||||
Total stockholders' equity | $ 738,800 | |||||||||
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. | |||||||||
July 5 | Declared a $0.50 per share cash dividend, date of record July 10. | |||||||||
July 31 | Decleared a 20% stock dividend when the stock's market value was $12 per share | |||||||||
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. | |||||||||
Required: | ||||||||||
1. How many common shares are ountstanding on each dividend date? | ||||||||||
Jan. 5 | Apr. 5 | Jul. 5 | Oct. 5 | |||||||
Beginning Balance | 40000 | 37000 | 37000 | 37000 | ||||||
Less Treasury | -3000 | 0 | 0 | 0 | ||||||
Plus Dividend shares | 0 | 0 | 0 | 7400 | ||||||
Common Shares Outstanding | 37000 | 37000 | 37000 | 44400 | ||||||
2. What is the total dollar amount for each of the four cash dividends? | ||||||||||
Jan. 5 | Apr. 5 | Jul. 5 | Oct. 5 | |||||||
Outstanding shares | ||||||||||
*Dividend | ||||||||||
Dividend Amoung |
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