Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Required information Problem 11-4A Analysis of changes in stockholders' equity accounts LO C3, P2, P3 [The following information applies to the questions displayed below.] The

Required information Problem 11-4A Analysis of changes in stockholders' equity accounts LO C3, P2, P3 [The following information applies to the questions displayed below.] The equity sections from Atticus Groups 2016 and 2017 year-end balance sheets follow. Stockholders Equity (December 31, 2016) Common stock$6 par value, 100,000 shares authorized, 30,000 shares issued and outstanding $ 180,000 Paid-in capital in excess of par value, common stock 140,000 Retained earnings 340,000 Total stockholders equity $ 660,000 Stockholders Equity (December 31, 2017) Common stock$6 par value, 100,000 shares authorized, 35,000 shares issued, 5,000 shares in treasury $ 210,000 Paid-in capital in excess of par value, common stock 160,000 Retained earnings ($40,000 restricted by treasury stock) 400,000 770,000 Less cost of treasury stock (40,000 ) Total stockholders equity $ 730,000 The following transactions and events affected its equity during year 2017. Jan. 5 Declared a $0.60 per share cash dividend, date of record January 10. Mar. 20 Purchased treasury stock for cash. Apr. 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 stocks market value was $10 per share. Aug. 14 Issued the stock dividend that was declared on July 31. Oct. 5 Declared a $0.60 per share cash dividend, date of record October 10.

What is the total dollar amount for each of the four cash dividends? Jan 5? Apr 5? Jul 5? Oct 5?

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

Financial And Managerial Accounting For Decision Makers

Authors: Michelle Hanlon, Robert Magee, Glenn Pfeiffer, Thomas Dyckman

4th Edition

1618533614, 9781618533616

More Books

Students also viewed these Accounting questions

Question

Identify and describe each of the major HRD functions

Answered: 1 week ago

Question

Cite some of the contemporary challenges facing HRD professionals

Answered: 1 week ago