e equity sections for Layfette Group at the beginning of the year (January1) and end of they year ( December 31) follow Stockholders Equity Jan.1 Common stock - 10$ par value 130,000 shares authorized, 50,000 shares issued and outstanding.........................................................................................................500,000$ Paid-in-Capital inexcessof par value,commonstock...............................75,000$ Retained Earnings................................................................................................410,000 Total Stockholder Equity..............................
The equity sections for Layfette Group at the beginning of the year (January1) and end of they year ( December 31) follow
Stockholders Equity Jan.1
Common stock - 10$ par value 130,000 shares authorized, 50,000 shares issued and outstanding.........................................................................................................500,000$
Paid-in-Capital inexcessof par value,commonstock...............................75,000$
Retained Earnings................................................................................................410,000
Total
Stock Holder equity Dec.31
Common Stock -10$ par value 130,000 shares authorized 54,650 shares issued and outstanding.......................................................................................546,500
Paid-in-capital in excess of par value, commonstock.............................130,000
Retained earnings (70,000 restricted by
.................................................................................................................................1,417,300
Less cost of treasury stock..............................................................................(70,000)
Total stock holders equity...............................................................................1,347,300
The following transactions and events affected its equity during the year.
JAN 5- Declared a 1.00$ per share cash dividend, payable on January 10.
MARCH 20 - Purchased treasury stock for cash.
APR.5 - Declared a 1.00$ share cash dividend, payable on April 10.
JULY 5 -Declared a 1.00$ per share cash dividend, payable on July 10.
July 31 - Declared a 10% stock dividend when the stocks market value was 22$ per share.
AUG 14. - Issued the stock dividends that was declared on Juy 31.
OCT. 5- Declared a 1.00$ per share cash dividend, date of record Oct.10
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