The equity sections for Atticus Group at the beginning of the year (January 1) and end of the year (December 31) foll Stockholders' Equity (January 1) Common stock-$5 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 Stockholders' Equity (December 31) Common stock-$5 par value, 100,000 shares authorized, 47,200 shares issued, 4,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($50,000 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 $0.50 per share cash dividend, date of record January 10. March 20 Purchased treasury stock for cash. April 5 July 5 Declared a $0.50 per share cash dividend, date of record April 10. Declared a $0.50 per share cash dividend, date of record July 10. Declared a 20% stock dividend when the stock's market value was $12 per share. Issued the stock dividend that was declared on July 31. Declared a $0.50 per share cash dividend, date of record October 10. July 31 August 14 October 5 $ 200,000 160,000 340,000 $ 700,000 2. What is the total dollar amount for each of the four cash dividends? $ 236,000 210,400 440,000 886,400 (50,000) $ 836,400
The equity sections for Atticus Group at the beginning of the year (January 1) and end of the year (December 31) foll Stockholders' Equity (January 1) Common stock-$5 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 Stockholders' Equity (December 31) Common stock-$5 par value, 100,000 shares authorized, 47,200 shares issued, 4,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($50,000 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 $0.50 per share cash dividend, date of record January 10. March 20 Purchased treasury stock for cash. April 5 July 5 Declared a $0.50 per share cash dividend, date of record April 10. Declared a $0.50 per share cash dividend, date of record July 10. Declared a 20% stock dividend when the stock's market value was $12 per share. Issued the stock dividend that was declared on July 31. Declared a $0.50 per share cash dividend, date of record October 10. July 31 August 14 October 5 $ 200,000 160,000 340,000 $ 700,000 2. What is the total dollar amount for each of the four cash dividends? $ 236,000 210,400 440,000 886,400 (50,000) $ 836,400
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter20: Corporations: Organization And Capital Stock
Section: Chapter Questions
Problem 1MP: Stockholders equity accounts and other related accounts of Gonzales Company as of January 1, 20--,...
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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-$5 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
Stockholders' Equity (December 31)
Common stock-$5 par value, 100,000 shares authorized, 47,200 shares issued, 4,000 shares in
treasury
Paid-in capital in excess of par value, common stock
Retained earnings ($50,000 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 $0.50 per share cash dividend, date of record January 10.
Purchased treasury stock for cash.
March 20
April 5
July 5
July 31
August 14
October 5
Declared a $0.50 per share cash dividend, date of record April 10.
Declared a $0.50 per share cash dividend, date of record July 10.
Declared a 20% stock dividend when the stock's market value was $12 per share.
Issued the stock dividend that was declared on July 31.
Declared a $0.50 per share cash dividend, date of record October 10.
2. What is the total dollar amount for each of the four cash dividends?
Cash dividend amounts
January 5
April 5
$ 200,000
160,000
340,000
$ 700,000
July 5
October 5
$ 236,000
210,400
440,000
886,400
(50,000)
$ 836,400
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