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FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Subject-accounting
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Problem 11-4A (Algo) Analyzing changes in stockholders' equity accounts LO C3, P2, P3
[The following Information applies to the questions displayed below.]
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, 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-$5 par value, 100,000 shares authorized, 35,400 shares issued, 3,000 shares in
treasury
Paid-in capital in excess of par value, common stock
Retained earnings ($60,000 restricted by treasury stock)
Less cost of treasury stock
Total stockholders' equity
The following transactions and events affected its equity during the year.
January S
Declared a $0.60 per share cash dividend, date of record January 10.
Purchased treasury stock for cash.
March 20
April S
July S
July 31
August 14
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.
October 5 Declared a $0.60 per share cash dividend, date of record October 10.
How many common shares are outstanding on each cash dividend date?
What is the total dollar amount for each of the four cash dividends?
$ 150,000
110,000
320,000
$ 580,000
$ 177,000
147,800
400,000
724,800
(60,000)
$ 664,800
Jan 5 April 5 July 5 October 5
What is the amount of retained earnings transferred to paid-in capital accounts (capitalized) for the stock
dividend?
What is the per share cost of the treasury stock purchased? (Round your answer to 2 decimal places.)](https://content.bartleby.com/qna-images/question/f7373726-0d35-46ca-aa27-97bcf9126f3a/128707d3-760d-4e39-9384-08bbb0e3464d/uc2w0mm_thumbnail.jpeg)
Transcribed Image Text:Required Information
Problem 11-4A (Algo) Analyzing changes in stockholders' equity accounts LO C3, P2, P3
[The following Information applies to the questions displayed below.]
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, 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-$5 par value, 100,000 shares authorized, 35,400 shares issued, 3,000 shares in
treasury
Paid-in capital in excess of par value, common stock
Retained earnings ($60,000 restricted by treasury stock)
Less cost of treasury stock
Total stockholders' equity
The following transactions and events affected its equity during the year.
January S
Declared a $0.60 per share cash dividend, date of record January 10.
Purchased treasury stock for cash.
March 20
April S
July S
July 31
August 14
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.
October 5 Declared a $0.60 per share cash dividend, date of record October 10.
How many common shares are outstanding on each cash dividend date?
What is the total dollar amount for each of the four cash dividends?
$ 150,000
110,000
320,000
$ 580,000
$ 177,000
147,800
400,000
724,800
(60,000)
$ 664,800
Jan 5 April 5 July 5 October 5
What is the amount of retained earnings transferred to paid-in capital accounts (capitalized) for the stock
dividend?
What is the per share cost of the treasury stock purchased? (Round your answer to 2 decimal places.)
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