Answered step by step
Verified Expert Solution
Question
1 Approved Answer
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
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-$5 par value, 100,000 shares authorized, 35,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholdersequity $ 175,000 135,000 360,000 $ 670,000 Stockholders' Equity (December 31) Common stock-$5 par value, 100,000 shares authorized, 41,000 shares issued, 5,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($40,000 restricted by treasury stock) S 205,000 177,000 400,000 782,000 Less cost of treasury stock Total stockholders' equity 5 742,000 The following transactions and events affected its equity during the year. January 5 Herch 20 April 5 July 5 July 31 August 14 October 5 Declared a $2.50 per share cash dividend, date of record January 10. Purchased treasury stock for cash. Declared a s.59 per share cash dividend, date of record April 10. Declared a $9.50 per share cash dividend, date of record July 10. Declared a 20% stock dividend when the stock's market value was $12 per share. Issued the stock dividend that was declared on July 31. Declared a $0.50 per share cash dividend, date of record October 10. LO The following transactions and events affected its equity during the year. January 5 Declared a $0.50 per share cash dividend, date of record January 10. March 20 Purchased treasury stock for cash. April 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 Declared a 20% stock dividend when the stock's market value was $12 per share. August 14 Issued the stock dividend that was declared on July 31. October 5 Declared a $8.50 per share cash dividend, date of record October 10. 4. What is the per share cost of the treasury stock purchased? (Round your answer to 2 decimal places.) Cost per share
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started