Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Assume that the stockholders equity section on the balance sheet of Dillards, a popular department is show. beliw.During the year, the comoany reported net income

Assume that the stockholders equity section on the balance sheet of Dillards, a popular department is show. beliw.During the year, the comoany reported net income of $463,909,000 and declared and oaid dividends of $10,002,000
image text in transcribed
image text in transcribed
image text in transcribed
Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion Assume that the stockholders' equity section on the balance sheet of Dillard's, a popular department store, is shown below. During the year, the company reported net income of $463,909,000 and declared and paid dividends of $10,002,000. Current Year Last Year 118,530 117,707 Stockholders' Equity Common stock, Class A-118,529,925 and 117,706,523 shares issued; ? and ? shares outstanding Common stock, Class B (convertible) 4.010.929 shares issued and outstanding Additional paid-in capital Retained earnings Less treasury stock, at cost. Class A 73,099.319 and 61,740,439 Shares 40,000 828,796,000 3, 107.344,000 40,000 805, 422,000 (1,846,312,000) (1,355,526,000) Required: 1. What is the par value of Dillard's Class A common stock? 2. How many shares of Class A Common Stock were outstanding at the end of last year and the end of the current year? 3. What amount was reported in the Retained Earnings account at the end of last year? 4. How is the dollar amount in the treasury stock account at the end of the current year reflected on the asset side of the balance sheet? 5. During the current year, by what amount did treasury stock transactions increase or decrease stockholders' equity? 6. At the end of the current year, what was the average price paid per share for shares held in treasury stock? 2. How many shares of Class A Common Stock were outstanding at the end of last year and the end of the curren 3. What amount was reported in the Retained Earnings account at the end of last year? 4. How is the dollar amount in the treasury stock account at the end of the current year reflected on the asset side sheet? 5. During the current year, by what amount did treasury stock transactions increase or decrease stockholders' equ 6. At the end of the current year, what was the average price paid per share for shares held in treasury stock? Complete this question by entering your answers in the tabs below. Req 1 Reg 2 Req3 Req 4 and 5 Req6 What is the par value of Dillard's Class A common stock? (Round your answer to 3 decimal places.) Par value of common stock Reg 2 > 29 W 2. now many srlares or Class A Common Stock were outstanding at the end of last year and the end of the current year? 3. What amount was reported in the Retained Earnings account at the end of last year? 4. How is the dollar amount in the treasury stock account at the end of the current year reflected on the asset side of the balar sheet? 5. During the current year, by what amount did treasury stock transactions increase or decrease stockholders' equity? 6. At the end of the current year, what was the average price paid per share for shares held in treasury stock? Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Reg 3 Req 4 and 5 Reg 6 How many shares of Class A Common Stock were outstanding at the end of last year and the end of the current year? Last Year Current Year Number of shares

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Justified The Story Of Americas Audit

Authors: Dr. Kelli Ward

1st Edition

195725503X, 978-1957255033

More Books

Students also viewed these Accounting questions