Answered step by step
Verified Expert Solution
Question
1 Approved Answer
580,000 Total stockholders' equity Stockholders' Equity (December 31) Common stock-$4 par value, 100,000 shares authorized, 41,400 shares issued, 3,000 shares in treasury Paid-in capital
580,000 Total stockholders' equity Stockholders' Equity (December 31) Common stock-$4 par value, 100,000 shares authorized, 41,400 shares issued, 3,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($50,000 restricted by treasury stock) Less cost of treasury stock Total stockholders' equity The following transactions and events affected its equity during the year. Declared a $0.60 per share cash dividend, date of record January 10. Purchased treasury stock for cash. January 5 March 20 April 5 Declared a $0.60 per share cash dividend, date of record April 10. July 5 Declared a $0.60 per share cash dividend, date of record July 10. July 31 Declared a 20% stock dividend when the stock's market value was $12 per share. August 14 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. Problem 11-4A (Algo) Part 1 Required: . How many common shares are outstanding on each cash dividend date? January 5 April 5 July 5 October 5 Outstanding common shares $ 165,600 151,200 440,000 756,800 (50,000) $ 706,800
Step by Step Solution
There are 3 Steps involved in it
Step: 1
To determine the number of common shares outstanding on each cash dividend date we need to consider ...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Document Format ( 2 attachments)
66427631c379b_980096.pdf
180 KBs PDF File
66427631c379b_980096.docx
120 KBs Word File
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started