Posted: June 4th, 2024

ACCT 211 LUO The equity sections from Atticus Group’s 2015 and 2016

The equity sections from Atticus Group’s 2015 and 2016 year-end balance sheets follow. Stockholders’ Equity (December 31, 2015) Common stock—$5 par value, 50,000 shares authorized, 35,000 shares issued and outstanding$175,000 Paid-in capital in excess of par value, common stock135,000 Retained earnings340,000 Total stockholders’ equity$650,000 Stockholders’ Equity (December 31, 2016) Common stock—$5 par value, 50,000 shares authorized, 41,200 shares issued, 4,000 shares in treasury$206,000 Paid-in capital in excess of par value, common stock178,400 Retained earnings ($50,000 restricted by treasury stock)440,000824,400 Less cost of treasury stock(50,000) Total stockholders’ equity$774,400The following transactions and events affected its equity during year 2016. Jan.5Declared a $0.40 per share cash dividend, date of record January 10.Mar.20Purchased treasury stock for cash.Apr.5Declared a $0.40 per share cash dividend, date of record April 10.July5Declared a $0.40 per share cash dividend, date of record July 10.July31Declared a 20% stock dividend when the stock’s market value is $12 per share.Aug.14Issued the stock dividend that was declared on July 31.Oct.5Declared a $0.40 per share cash dividend, date of record October 10. 6. value:1.25 points Required information Required:1.How many common shares are outstanding on each cash dividend date? References eBook & Resources WorksheetLearning Objective: 11-C3 Explain the items reported in retained earnings.Learning Objective: 11-P3 Record purchases and sales of treasury stock and the retirement of stock.Difficulty: 3 HardLearning Objective: 11-P2 Record transactions involving cash dividends, stock dividends, and stock splits.Check my work 7. value:1.25 points Required information 2.What is the total dollar amount for each of the four cash dividends? References eBook & Resources WorksheetLearning Objective: 11-C3 Explain the items reported in retained earnings.Learning Objective: 11-P3 Record purchases and sales of treasury stock and the retirement of stock.Difficulty: 3 HardLearning Objective: 11-P2 Record transactions involving cash dividends, stock dividends, and stock splits.Check my work 8. value:1.25 points Required information 3.What is the amount of the capitalization of retained earnings for the stock dividend? References eBook & Resources WorksheetLearning Objective: 11-C3 Explain the items reported in retained earnings.Learning Objective: 11-P3 Record purchases and sales of treasury stock and the retirement of stock.Difficulty: 3 HardLearning Objective: 11-P2 Record transactions involving cash dividends, stock dividends, and stock splits.Check my work 9. value:1.25 points Required information 4.What is the per share cost of the treasury stock purchased? (Round your answer to 2 decimal places.) References eBook & Resources WorksheetLearning Objective: 11-C3 Explain the items reported in retained earnings.Learning Objective: 11-P3 Record purchases and sales of treasury stock and the retirement of stock.Difficulty: 3 HardLearning Objective: 11-P2 Record transactions involving cash dividends, stock dividends, and stock splits.Check my work 10. value:1.25 points Required information 5.How much net income did the company earn during year 2016?

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