newconnect.mheducation.com Help S Saved work The equity sections from Atticus Gr

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newconnect.mheducation.com Help S Saved work The equity sections from Atticus Group's 2016 and 2017 year-end balance sheets follow. 31, 2016) Common stock-$5 par value, 100,000 shares authorized, 40,000 shares issued and outstanding Paid-in capital in excess ot par value, common stock Retained earnings Total stockholders equity 200,000 160,000 340,000 700,000 Conmon stock-$5 par value, 100,000 shares $235,000 authorized, 47,000 shares issued, 5,000 shares in treasury Retained earnings ($50,000 res tripted by treasury stock) Less cost of treasury stock 209,000 864,000 (50-000 Paid-in capital in excess of par yalue, common stock Total stockholders' equity $814,000 The following transactions and events affected its equity during year 2017 Jan. 5 Declared a $0.50 per share cash dividend, date of record January 10. Mar. 20 Parchased treasury stock for cash Apr. 5 Declared$0.50 per share cash dividend, date of record April 10. July 5Declared a $0.50 per share cash dividend, date of record July 10. July 31 Declared a 20a stoek dividend when the stoak's market value was $12 per share. Aug. 14 Tssued the stock dividend that was declared on July 31 oet. 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?

Explanation / Answer

Shares outstanding on dates of declaration of cash dividend Date Number of shares outstanding January.5 40000 April.5 35000 July.5 35000 Oct.5 42000 Working: Shares Date Details Issued / Cumulative purchased Outstanding January.1 Shares of common stock outstanding 40000 40000 March.20 Treasury stock purchased 5000 35000 July.31 Stock dividend of 20% declared 7000 42000

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