Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

help me fill in the table because I am not understanding $ The equity sections for Atticus Group at the beginning of theyear (January 1)

image text in transcribedhelp me fill in the table because I am not understanding

$ The equity sections for Atticus Group at the beginning of theyear (January 1) and the end of the year (December 31) follow: Stockholders' equity (January 1) Common stock - $4 par value 100,000 shares authorized, 40,000 shares issued and outstanding. 160,000 Paid-in capital in excess of par value, common stock 120,000 Retained earnings 320,000 Total stockholders' equity $ 600,000 $ Stockholders' equity (December 31) Common stock - $4 par value, 100,000 shares authorized, 40,000 shares issued and outstanding. Paid-in capital in excess of par value, common stock Retained earnings 189,600 179,200 400,000 768,800 (30,000 738,800 Less cost of treasury stock Total stockholders' equity $ The following transactions and events affected its equity during the year: Jan. 5 Declared a $0.50 per share cash dividend, date of record January 10. Mar. 20 Purchased treasury stock for cash. Apr. 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 Decleared a 20% stock dividend when the stock's market value was $12 per share Issued the stock dividend that was declared on July 31. Oct. 5 Declared a $0.50 per share cash dividend, date of record October 10. Aug. 14 Required: 1. How many common shares are outstanding on each dividend date? Jan. 5 Apr. 5 Jul. 5 Oct. 5 Beginning Balance Less Treasury Plus Dividend shares Common Shares Outstanding

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

The Employers Guide To Surviving Payroll And Human Resources Audits 2019

Authors: Paul E Love

1st Edition

1073422771, 978-1073422777

More Books

Students also viewed these Accounting questions

Question

a neglect of quality in relationship to international competitors;

Answered: 1 week ago