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, 30, 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-$6 par value, 100,000 shares authorized, 35,200 shares issued, 4,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($40,000 restricted by treasury stock) Less cost of treasury stock Total stockholders' equity Show Transcribed Text The following transactions and events affected its equity during the year. January 5 March 20 April 5 July 5 July 31 August 14 October 5 G Net income 5. How much net income did the company earn this year? $ 180,000 140,000 340,000 $ 660,000 $ 211, 200 171,200 400,000 782,400 (40,000) $ 742,400 Declared a $0.60 per share cash dividend, date of record January 10. Purchased treasury stock for cash. Declared a $0.60 per share cash dividend, date of record April 10. Declared a $0.60 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 $0.60 per share cash dividend, date of record October 10.
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, 30, 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-$6 par value, 100,000 shares authorized, 35,200 shares issued, 4,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($40,000 restricted by treasury stock) Less cost of treasury stock Total stockholders' equity Show Transcribed Text The following transactions and events affected its equity during the year. January 5 March 20 April 5 July 5 July 31 August 14 October 5 G Net income 5. How much net income did the company earn this year? $ 180,000 140,000 340,000 $ 660,000 $ 211, 200 171,200 400,000 782,400 (40,000) $ 742,400 Declared a $0.60 per share cash dividend, date of record January 10. Purchased treasury stock for cash. Declared a $0.60 per share cash dividend, date of record April 10. Declared a $0.60 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 $0.60 per share cash dividend, date of record October 10.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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-$6 par value, 100, 000 shares authorized, 30,000 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-$6 par value, 100, 000 shares authorized, 35,200 shares issued, 4,000
shares in treasury
Paid-in capital in excess of par value, common stock.
Retained earnings ($40,000 restricted by treasury stock).
Less cost of treasury stock
Total stockholders' equity
Show Transcribed Text
The following transactions and events affected its equity during the year.
January 5 Declared a $0.60 per share cash dividend, date of record January 10.
March 20 Purchased treasury stock for cash..
April 5
July 5
July 31
August 14
October 5
3
Net income
Declared a $0.60 per share cash dividend, date of record April 10.
Declared a $0.60 per share cash dividend, date of record July 10.
5. How much net income did the company earn this year?
$ 180,000
140,000
340,000
$ 660,000
$ 211, 200
171, 200
400,000
782,400
(40,000)
$ 742,400
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 $0.60 per share cash dividend, date of record October 10.
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