Answered step by step
Verified Expert Solution
Question
1 Approved Answer
all to same question [The following information applies to the questions displayed below) The equity sections for Atticus Group at the beginning of the year
all to same question
[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, 180,000 shares authorized, 35,000 shares issued and outstanding Poid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 175,000 135,000 320,000 $630,000 Stockholders' Equity (December 31) Common Stock-55 par value, 100,000 shares authorized, 41,600 shares Issued 5,000 shares in treasury Paid-in capital in excess of par value, comon stock Retained earnings (520,000 restricted by treasury stock Less cost of treasury stock Total stockholders' equity $ 205,000 165.000 400,000 770,000 80.000 S 740.000 The following transactions and events affected its equity during the year January 5 Declared a $0.50 per share cash dividend, date of record banuary 10. March 20 Purchased treasury stock for cash. Aprils Declared a Se.50 per share cash dividend, date of record April 10. July 5 Declared a se.se per share cash dividend, date of record July 10. July 31 Declared a ze stock dividend when the stock's market value was $10 per share. Avitust 14 Issued the stock dividend that was declared on July 31. October Declared a $9.50 per share cash dividend, date of record October 10. The following transactions and events affected its equity during the year. January 5 Declared a $0.50 per share cash dividend, date of record January 10. March 20 Purchased treasury stock for cash. April 5 Declared a $0.50 per share cash dividend date of record April 10. July 5 Declared a $0.50 per share cash dividend, date of record July 10. July 31 Declared a 20% stock dividend when the stock market value was $10 per share. August 14 Issued the stock dividend that was declared on Duly 31. October 5 Declared a $0.50 per share cash dividend, date of record October 10. 2. What is the total dollar amount for each of the four cash dividends? January 5 April 5 July 5 October 5 Cash dividend amounts Common stock-55 par value, 100,000 shares authorized, 41,600 shares issued, 5.900 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($30,000 restricted by treasury stock) Less cost of treasury stock Total stockholders' equity $ 205,000 165,000 400,000 378,000 30,000) $240,000 The following transactions and events affected its equity dunng the year January 5 Declared a se.50 per share cash dividend, date of record 1anuary March 2e Purchased treasury stock for cash. April 5 Declared a $8.50 per share cash dividend, date of record April 10 July 5 Declared a $0.50 per share cash dividend, date of record oy 0. July 31 Declared a 20% stock dividend when the stock's Garket value os 10 per shore August 14 Issued the stock dividend that was declared on July 31: October 5 Declared a se.50 per share cash dividend, date of record october 10. 3. What is the amount of retained earnings transferred to paid-in capital accounts (capitalized) for the stock dividend? Capitalization amount Common stock-55 par value, 100,000 shares authorized, 41,000 shares issued, 5,000 shares in treasury Paid-in capital in excess of par value, comon stock Retained earnings ($30,000 restricted by treasury stock) Less cost of treasury stock Total stockholders' equity $ 205,000 165,000 400,000 770,000 (30,000) $ 740,000 The following transactions and events affected its equity during the year. January 5 Declared a $0.50 per share cash dividend, date of record January 10. March 20 Purchased treasury stock for cash. April 5 Declared a $0.50 per share cash dividend, date of record April 10. July 5 Declared a $0.58 per share cash dividend, date of record July 10. July 31 Declared a 20% stock dividend when the stock's market value was $10 per share. August 14 Issued the stock dividend that was declared on July 31. October 5 Declared a $0.50 per share cash dividend, date of record October 10. 4. What is the per share cost of the treasury stock purchased? (Round your answer to 2 decimal places.) Cost per share The following transactions and events affected its equity during the year. January 5 Declared a $0.50 per share cash dividend, date of record January 10. March 20 Purchased treasury stock for cash: April 5 Declared a $0.50 per share cash dividend, date of record April 10. July 5 Declared a $0.50 per share cash dividend, date of record July 10. July 31 Declared a 20% stock dividend when the stock market value was $10 per share. August 14 Issued the stock dividend that was declared on July 31. October 5 Declared a $8.50 per share cash dividend, date of record October 10. 5. How much net income did the company eam this year? Net Income Step by Step Solution
There are 3 Steps involved in it
Step: 1
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
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started