Details of this Paper

Company - Shares Accounting

Description

solution


Question

Stockholders? Equity (December 31, 2011);Common stock?$ 4 par value, 50,000 shares;authorized, 20,000 shares issued and outstanding.............. $ 80,000;Paid- in capital in excess of par value, common stock............... 60,000;Retained earnings........................................... 160,000;Total stockholders? equity.................................... $ 300,000;Stockholders? Equity (December 31, 2012);Common stock?$ 4 par value, 50,000 shares;authorized, 23,700 shares issued, 1,500 shares in treasury......... $ 94,800;Paid- in capital in excess of par value, common stock............... 89,600;Retained earnings ($ 15,000 restricted by treasury stock)........... 200,000;384,400;Less cost of treasury stock.................................(15,000);Total stockholders? equity................................. $ 369,400;The following transactions and events affected its equity during year 2012.;Jan. 5 Declared a $ 0.50 per share cash dividend, date of record January 10.;Mar. 20 Purchased treasury stock for cash.;Apr. 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 is $ 12 per share.;Aug. 14 Issued the stock dividend that was declared on July 31.;Oct. 5 Declared a $ 0.50 per share cash dividend, date of record October 10.;Required;1. How many common shares are outstanding on each cash dividend date?;2. What is the total dollar amount for each of the four cash dividends?;3. What is the amount of the capitalization of retained earnings for the stock dividend?;4. What is the per share cost of the treasury stock purchased?;5. How much net income did the company earn during year 2012?

 

Paper#27818 | Written in 18-Jul-2015

Price : $34
SiteLock