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 $ 200,000 160,000 340,000 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 ($40,000 restricted by treasury stock) Less cost of treasury stock $ 700,000 $ 236,000 210, 400 400,000 846,400 (40,000) $ 806,400 Total stockholders' equity The following transactions and events affected its equity during the year. January 5 Declared a $0.40 per share cash dividend, date of record January 10. March 20 Purchased treasury stock for cash. April 5 July 5 July 31 August 14 Declared a $0.40 per share cash dividend, date of record April 10. Declared a $0.40 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. October 5 Declared a $0.40 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-$5 par value, 100,000 shares authorized, 40,000 shares issued and outstanding $ 200,000 160,000 340,000 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 ($40,000 restricted by treasury stock) Less cost of treasury stock $ 700,000 $ 236,000 210, 400 400,000 846,400 (40,000) $ 806,400 Total stockholders' equity The following transactions and events affected its equity during the year. January 5 Declared a $0.40 per share cash dividend, date of record January 10. March 20 Purchased treasury stock for cash. April 5 July 5 July 31 August 14 Declared a $0.40 per share cash dividend, date of record April 10. Declared a $0.40 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. October 5 Declared a $0.40 per share cash dividend, date of record October 10.
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--,...
Related questions
Question
The equity sections for Atticus Group at the beginning of the year (January 1) and end of the year (December 31) follow. The following transactions and events affected its equity during the year. Question: What is the total dollar amount for each of the four cash dividends? January 5 April 5 July 5 October 5.
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
$ 200,000
160,000
340,000
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 ($40,000 restricted by treasury stock)
Less cost of treasury stock
$ 700,000
$ 236,000
210, 400
400,000
846,400
(40,000)
$ 806,400
Total stockholders' equity
The following transactions and events affected its equity during the year.
January 5 Declared a $0.40 per share cash dividend, date of record January 10.
March 20 Purchased treasury stock for cash.
April 5
July 5
July 31
August 14
Declared a $0.40 per share cash dividend, date of record April 10.
Declared a $0.40 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.
October 5
Declared a $0.40 per share cash dividend, date of record October 10.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Recommended textbooks for you
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
College Accounting, Chapters 1-27 (New in Account…
Accounting
ISBN:
9781305666160
Author:
James A. Heintz, Robert W. Parry
Publisher:
Cengage Learning
Excel Applications for Accounting Principles
Accounting
ISBN:
9781111581565
Author:
Gaylord N. Smith
Publisher:
Cengage Learning
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,