The equity sections for Atticus Group at the beginning of the year (January Stockholders' Equity (January 1) Common stock-$5 par value, 100,000 shares authorized, 35,000 shares is outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity Stockholders' Equity (December 31) Common stock-$5 par value, 100,000 shares authorized, 41,400 shares is treasury Paid-in capital in excess of par value, common stock Retained earnings ($40,000 restricted by treasury stock) Less cost of treasury stock Total stockholders' equity The following transactions and events affected its equity during the year. January 5 Declared a $0.50 per share cash dividend, date of record Jar March 20 Purchased treasury stock for cash. April 5 July 5 July 31 August 14 Declared a $0.50 per share cash dividend, date of record Apr Declared a $0.50 per share cash dividend, date of record Ju Declared a 20% stock dividend when the stock's market value Issued the stock dividend that was declared on July 31. October 5 Declared a $0.50 per share cash dividend, date of record Oc- 5. How much net income did the company earn this year? S
The equity sections for Atticus Group at the beginning of the year (January Stockholders' Equity (January 1) Common stock-$5 par value, 100,000 shares authorized, 35,000 shares is outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity Stockholders' Equity (December 31) Common stock-$5 par value, 100,000 shares authorized, 41,400 shares is treasury Paid-in capital in excess of par value, common stock Retained earnings ($40,000 restricted by treasury stock) Less cost of treasury stock Total stockholders' equity The following transactions and events affected its equity during the year. January 5 Declared a $0.50 per share cash dividend, date of record Jar March 20 Purchased treasury stock for cash. April 5 July 5 July 31 August 14 Declared a $0.50 per share cash dividend, date of record Apr Declared a $0.50 per share cash dividend, date of record Ju Declared a 20% stock dividend when the stock's market value Issued the stock dividend that was declared on July 31. October 5 Declared a $0.50 per share cash dividend, date of record Oc- 5. How much net income did the company earn this year? S
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter10: Stockholder's Equity
Section: Chapter Questions
Problem 57E: Outstanding Stock Lars Corporation shows the following information in the stockholders equity...
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