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Please don't write by hand. I can't read it clearly The equity sections for Atticus Group at the beginning of the year (January 1) and
Please don't write by hand. I can't read it clearly
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-$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 Total stockholders' equity $ 160,000 120,000 320,000 $ 600,000 Stockholders' Equity (December 31) Common stock-$4 par value, 100, 000 shares authorized, 47, 400 shares issued, 3,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($30,000 restricted by treasury stock) $ 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, payable on January 10. Mar 20 Purchased treasury stock for cash Apr. 5 Declared a $0.50 per share cash dividend, payable on April 10. July 5 Declared a $0.50 per share cash dividend, payable on July 10. July 31 Declared a 20% stock dividend when the stock's market value was $12 per share 14 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. Requirement General Journal General Ledger Trial Balance Cash Dividends Stock Dividend General Ledger tab - Prepare journal entries for each transaction. Cash Dividends tab - Calculate the amount of each cash dividend Stock Dividend tab - Calculate the amount of retained earnings to be capitalized. 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 nece event, and then agree the year-end balances with the December 31 Stockholders' Equity statement given a View transaction list Journal entry worksheet Declared a $0.50 per share cash dividend, payable on January 10. Note: Enter debits before credits. Account Title Debit Credit Date Jan 05 Record entry Clear entry View general journal Journal entry worksheet Purchased treasury stock for cash. Hint: Use information from the December 31 Stockholders' equity statement. Entry to restrict retained earnings is not required. Note: Enter debits before credits. Account Title Debit Credit Date Mar 20 Record entry Clear entry View general journal Journal entry worksheet Declared a $0.50 per share cash dividend, payable on April 10. Note: Enter debits before credits. Account Title Debit Credit Date Apr 05 Record entry Clear entry View general journal Journal entry worksheet Declared a $0.50 per share cash dividend, payable on July 10. Note: Enter debits before credits. Date Account Title Debit Credit Jul 05 Record entry Clear entry View general journal Journal entry worksheet Declared a 20% stock dividend when the stock'os market value is $12 per share. Note: Enter debits before credits. Date Account Title Debit Credit Jul 31 Record entry Clear entry View general journal Journal entry worksheet Issued the stock dividend that was declared on July 31. Note: Enter debits before credits. Date Account Title Debit Credit Aug 14 Record entry Clear entry View general journal Journal entry worksheet Record payment of the 10/10 dividend. Note: Enter debits before credits. Date Account Title / Debit Credit Oct 10 Record entry Clear entry View general journal Journal entry worksheet Requirement General Journal General Ledger Trial Balance Cash Dividends Stock Dividend Calculate the amount of retained earnings to be capitalized as a result of the stock dividend. Dates: Jan 01 to: Dec 31 Capitalization of retained earnings due to stock dividend: Number of shares outstanding on July 30 Percentage of stock dividend Number of shares to be issued Amount to be capitalized per share Total amount to be capitalizedStep by Step Solution
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