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 $ 210,000 Paid-in capital in excess of par value, common stock 170,000 Retained earnings 320,000 Total stockholders’ equity $ 700,000   Stockholders’ Equity (December 31)   Common stock—$6 par value, 100,000 shares authorized, 41,000 shares issued, 5,000 shares in treasury $ 246,000 Paid-in capital in excess of par value, common stock 218,000 Retained earnings ($40,000 restricted by treasury stock) 400,000   864,000 Less cost of treasury stock (40,000) Total stockholders’ equity $ 824,000 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 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 Declared a 20% stock dividend when the stock’s market value was $14 per share. August 14 Issued the stock dividend that was declared on July 31. October 5 Declared a $0.50 per share cash dividend, date of record October 10.   4. What is the per share cost of the treasury stock purchased? (Round your answer to 2 decimal places.)

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6.    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 $ 210,000 Paid-in capital in excess of par value, common stock 170,000 Retained earnings 320,000 Total stockholders’ equity $ 700,000   Stockholders’ Equity (December 31)   Common stock—$6 par value, 100,000 shares authorized, 41,000 shares issued, 5,000 shares in treasury $ 246,000 Paid-in capital in excess of par value, common stock 218,000 Retained earnings ($40,000 restricted by treasury stock) 400,000   864,000 Less cost of treasury stock (40,000) Total stockholders’ equity $ 824,000 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…

The stockholders’ equity accounts of Rayburn Corporation as of January 1 appear below: Common stock, $7 par value, 400,000 shares authorized;   180,000 shares issued and outstanding $1,260,000 Paid-in capital in excess of par value 920,000 Retained earnings 513,000   During the year, the following transactions occurred: June 7 Declared a 10 percent stock dividend; market value of the common stock was $13 per share. June 28 Issued the stock dividend declared on June 7. Dec. 5 Declared a cash dividend of $1.45 per share. Dec. 26 Paid the cash dividend declared on December 5.   Required a. Prepare journal entries to record the foregoing transactions. General Journal Date Description Debit Credit Jun.07 Answer Answer Answer   Stock Dividends Distributable Answer Answer   Answer Answer Answer   Declared stock dividend.     Jun.28 Answer Answer Answer   Common Stock Answer Answer   Issued common shares as stock dividend.     Dec.05 Answer…