14 The equity sections for Dade Group at the beginning of the year (January 1) and end of the year (December 31) follow. Stockholders' Equity (January 1) Common stock-$12 par value, 150,000 shares authorized, 60,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 720,000 108,000 590,000 $1,418,000 eBook Print Stockholders' Equity (December 31) Common stock-$12 par value, 150,000 shares authorized, 69,810 shares issued, 5,500 shares in treasury $ 837,720 Paid-in capital in excess of par value, common stock 245, 340 Retained earnings ($132,000 restricted by treasury stock) 1,060,000 2, 143,060 Less cost of treasury stack (132,000) Total stockholders' equity $2,011, 060 eferences The following transactions and events affected its equity during the year. Jan. 5 Declared a $2.40 per share cash dividend, payable on January 10. Mar. 20 Purchased treasury stock for cash. Apr. 5 Declared a $2.40 per share cash dividend, payable on April 10. July 5 Declared a $2.40 per share cash dividend, payable on July 10. July 31 Declared a 18% stock dividend when the stock's market value was $26 per share. Aug. 14 Issued the stock dividend that was declared on July 31. Oct. 5 Declared a $2.40 per share cash dividend, date of record October 10. Requirement General Journal General Ledger Trial Balance Cash Dividends Stock Dividend The following transactions and events affected its equity during the year. Prepare the journal entry necessary to record each event, and then agree the year-end balances with the December 31 Stockholders' Equity statement given above. View transaction list Journal entry worksheet Declared a $2.40 per share cash dividend, payable on January 10. Note: Enter debits before credits. 14 The equity sections for Dade Group at the beginning of the year (January 1) and end of the year (December 31) follow. 36 ints Stockholders' Equity (January 1) Common stock-$12 par value, 150,000 shares authorized, 60,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 720,000 108,000 590,000 $1,418,000 eBook Print Stockholders' Equity (December 31) Common stock-$12 par value, 150,000 shares authorized, 69,810 shares issued, 5,500 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($132,000 restricted by treasury stock) $ 837,720 245, 340 References Less cost of treasury stock Total stockholders' equity 2,143,060 (132,000) $2,011,060 The following transactions and events affected its equity during the year. Jan. 5 Declared a $2.40 per share cash dividend, payable on January 10. Mar. 20 Purchased treasury stock for cash. Apr. 5 Declared a $2.40 per share cash dividend, payable on April 10. July 5 Declared a $2.40 per share cash dividend, payable on July 10. July 31 Declared a 188 stock dividend when the stock's market value was $26 per share. Aug. 14 Issued the stock dividend that was declared on July 31. Oct. 5 Declared a $2.40 per share cash dividend, date of record October 10. Requirement General Journal General Ledger Trial Balance Cash Dividends Stock Dividend Note: The ending equity balances should agree with the December 31 Statement of Stockholders' Equity. Dates: Jan 01 to: Dec 31 General Ledger Account Cash Debit Common stock Debit Credit Credit No. Date Jan 01 Balance 2,703,004 Date Jan 01 Balance 720,000 Paid-in capital, Common Debit Credit Retained earnings Debit Credit No. No. Date Jan 01 Balance 108,000 Date Jan 01 Balance 590,000 Income summary Debit Credit Date Jan 01 Balance (1,285,004) The equity sections for Dade Group at the beginning of the year (January 1) and end of the year (December 31) follow. US Stockholders' Equity (January 1) Common stock-$12 par value, 150,000 shares authorized, 60,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 720,000 108,000 590,000 $1,418,000 eBook Print Stockholders' Equity (December 31) Common stock-$12 par value, 150,000 shares authorized, 69,810 shares issued, 5,500 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($132,000 restricted by treasury stock) eferences $ 837, 720 245,340 1,060,000 2, 143,060 (132,000) $2,011,060 Less cost of treasury stock Total stockholders' equity The following transactions and events affected its equity during the year. Jan. 5 Declared a $2.40 per share cash dividend, payable on January 10. Mar. 20 Purchased treasury stock for cash. Apr. 5 Declared a $2.40 per share cash dividend, payable on April 10. July 5 Declared a $2.40 per share cash dividend, payable on July 10. July 31 Declared a 18% stock dividend when the stock's market value was $26 per share. Aug. 14 Issued the stock dividend that was declared on July 31. Oct. 5 Declared a $2.40 per share cash dividend, date of record October 10. Requirement General Journal General Ledger Trial Balance Cash Dividends Soal Dividend Stock Dividend Dade Group Trial Balance December 31, 2019 Account Title Credit Debit 2,703,004 $ Cash Common stock Paid-in capital, Common Retained earnings Income summary Total 720,000 108,000 590,000 1,285,004 2,703,004 S 2,703,004 $ The equity sections for Dade Group at the beginning of the year (January 1) and end of the year (December 31) follow. Stockholders' Equity (January 1) Common stock-$12 par value, 150,000 shares authorized, 60,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 720,000 108,000 590,000 $1,418,000 eBook Print Stockholders' Equity (December 31) Common stock-$12 par value, 150,000 shares authorized, 69,810 shares issued, 5,500 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($132,000 restricted by treasury stock) eferences $ 837,720 245,340 1,060,000 2,143,060 (132,000) $2,011,060 Less cost of treasury stock Total stockholders' equity The following transactions and events affected its equity during the year. Jan. 5 Declared a $2.40 per share cash dividend, payable on January 10. Mar. 20 Purchased treasury stock for cash. Apr. 5 Declared a $2.40 per share cash dividend, payable on April 10. July 5 Declared a $2.40 per share cash dividend, payable on July 10. July 31 Declared a 188 stock dividend when the stock's market value was $26 per share. Aug. 14 Issued the stock dividend that was declared on July 31. Oct. 5 Declared a $2.40 per share cash dividend, date of record October 10. Cash Requirement General Journal General Ledger Trial Balance Dividends Stock Dividend Calculate the dollar amount of each cash dividend. Dates: Jan 01 to: Dec 31 July 05 October 05 Calculation of Cash Dividends January 05 April 05 How many common shares are outstanding? Dividend per share Total cash dividend 14 The equity sections for Dade Group at the beginning of the year (January 1) and end of the year (December 31) follow. Stockholders' Equity (January 1) Common stock-$12 par value, 150,000 shares authorized, 60,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 720,000 108,000 590,000 $1,418,000 eBook Print Stockholders' Equity (December 31) Common stock-$12 par value, 150,000 shares authorized, 69,810 shares issued, 5,500 shares in treasury $ 837,720 Paid-in capital in excess of par value, common stock 245, 340 Retained earnings ($132,000 restricted by treasury stock) 1,060,000 2, 143,060 Less cost of treasury stack (132,000) Total stockholders' equity $2,011, 060 eferences The following transactions and events affected its equity during the year. Jan. 5 Declared a $2.40 per share cash dividend, payable on January 10. Mar. 20 Purchased treasury stock for cash. Apr. 5 Declared a $2.40 per share cash dividend, payable on April 10. July 5 Declared a $2.40 per share cash dividend, payable on July 10. July 31 Declared a 18% stock dividend when the stock's market value was $26 per share. Aug. 14 Issued the stock dividend that was declared on July 31. Oct. 5 Declared a $2.40 per share cash dividend, date of record October 10. Requirement General Journal General Ledger Trial Balance Cash Dividends Stock Dividend The following transactions and events affected its equity during the year. Prepare the journal entry necessary to record each event, and then agree the year-end balances with the December 31 Stockholders' Equity statement given above. View transaction list Journal entry worksheet Declared a $2.40 per share cash dividend, payable on January 10. Note: Enter debits before credits. 14 The equity sections for Dade Group at the beginning of the year (January 1) and end of the year (December 31) follow. 36 ints Stockholders' Equity (January 1) Common stock-$12 par value, 150,000 shares authorized, 60,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 720,000 108,000 590,000 $1,418,000 eBook Print Stockholders' Equity (December 31) Common stock-$12 par value, 150,000 shares authorized, 69,810 shares issued, 5,500 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($132,000 restricted by treasury stock) $ 837,720 245, 340 References Less cost of treasury stock Total stockholders' equity 2,143,060 (132,000) $2,011,060 The following transactions and events affected its equity during the year. Jan. 5 Declared a $2.40 per share cash dividend, payable on January 10. Mar. 20 Purchased treasury stock for cash. Apr. 5 Declared a $2.40 per share cash dividend, payable on April 10. July 5 Declared a $2.40 per share cash dividend, payable on July 10. July 31 Declared a 188 stock dividend when the stock's market value was $26 per share. Aug. 14 Issued the stock dividend that was declared on July 31. Oct. 5 Declared a $2.40 per share cash dividend, date of record October 10. Requirement General Journal General Ledger Trial Balance Cash Dividends Stock Dividend Note: The ending equity balances should agree with the December 31 Statement of Stockholders' Equity. Dates: Jan 01 to: Dec 31 General Ledger Account Cash Debit Common stock Debit Credit Credit No. Date Jan 01 Balance 2,703,004 Date Jan 01 Balance 720,000 Paid-in capital, Common Debit Credit Retained earnings Debit Credit No. No. Date Jan 01 Balance 108,000 Date Jan 01 Balance 590,000 Income summary Debit Credit Date Jan 01 Balance (1,285,004) The equity sections for Dade Group at the beginning of the year (January 1) and end of the year (December 31) follow. US Stockholders' Equity (January 1) Common stock-$12 par value, 150,000 shares authorized, 60,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 720,000 108,000 590,000 $1,418,000 eBook Print Stockholders' Equity (December 31) Common stock-$12 par value, 150,000 shares authorized, 69,810 shares issued, 5,500 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($132,000 restricted by treasury stock) eferences $ 837, 720 245,340 1,060,000 2, 143,060 (132,000) $2,011,060 Less cost of treasury stock Total stockholders' equity The following transactions and events affected its equity during the year. Jan. 5 Declared a $2.40 per share cash dividend, payable on January 10. Mar. 20 Purchased treasury stock for cash. Apr. 5 Declared a $2.40 per share cash dividend, payable on April 10. July 5 Declared a $2.40 per share cash dividend, payable on July 10. July 31 Declared a 18% stock dividend when the stock's market value was $26 per share. Aug. 14 Issued the stock dividend that was declared on July 31. Oct. 5 Declared a $2.40 per share cash dividend, date of record October 10. Requirement General Journal General Ledger Trial Balance Cash Dividends Soal Dividend Stock Dividend Dade Group Trial Balance December 31, 2019 Account Title Credit Debit 2,703,004 $ Cash Common stock Paid-in capital, Common Retained earnings Income summary Total 720,000 108,000 590,000 1,285,004 2,703,004 S 2,703,004 $ The equity sections for Dade Group at the beginning of the year (January 1) and end of the year (December 31) follow. Stockholders' Equity (January 1) Common stock-$12 par value, 150,000 shares authorized, 60,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 720,000 108,000 590,000 $1,418,000 eBook Print Stockholders' Equity (December 31) Common stock-$12 par value, 150,000 shares authorized, 69,810 shares issued, 5,500 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($132,000 restricted by treasury stock) eferences $ 837,720 245,340 1,060,000 2,143,060 (132,000) $2,011,060 Less cost of treasury stock Total stockholders' equity The following transactions and events affected its equity during the year. Jan. 5 Declared a $2.40 per share cash dividend, payable on January 10. Mar. 20 Purchased treasury stock for cash. Apr. 5 Declared a $2.40 per share cash dividend, payable on April 10. July 5 Declared a $2.40 per share cash dividend, payable on July 10. July 31 Declared a 188 stock dividend when the stock's market value was $26 per share. Aug. 14 Issued the stock dividend that was declared on July 31. Oct. 5 Declared a $2.40 per share cash dividend, date of record October 10. Cash Requirement General Journal General Ledger Trial Balance Dividends Stock Dividend Calculate the dollar amount of each cash dividend. Dates: Jan 01 to: Dec 31 July 05 October 05 Calculation of Cash Dividends January 05 April 05 How many common shares are outstanding? Dividend per share Total cash dividend