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[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
[The following information applies to the questions displayed below.] The equity sections from Atticus Groups 2016 and 2017 year-end balance sheets follow.
Common stock$6 par value, 100,000 shares authorized, 35,000 shares issued and outstanding | $210,000 |
Paid-in capital in excess of par value, common stock | 170,000 |
Retained earnings | 360,000 |
Total stockholders equity | $740,000 |
Common stock$6 par value, 100,000 shares authorized, 41,200 shares issued, 4,000 shares in treasury | $247,200 |
Paid-in capital in excess of par value, common stock | 219,600 |
Retained earnings ($30,000 restricted by treasury stock) | 400,000 |
866,800 | |
Less cost of treasury stock | (30,000) |
Total stockholders equity | $836,800 |
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 $14 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. |
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