Stockholders' Equity (January 1) Common stock-$6 par value, 100,000 shares authorized, 40,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity Stockholders' Equity (December 31) Common stock-$6 par value, 100,000 shares authorized, 47,200 shares issued, 4,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($60,000 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 $0.60 per share cash dividend, date of record January 10. Purchased treasury stock for cash. $ 240,000 200,000 340,000 $ 780,000 March 20 April 5 Declared a $0.60 per share cash dividend, date of record April 10. July 5 Declared a $0.60 per share cash dividend, date of record July 10. July 31 Declared a 20% stock dividend when the stock's market value was $10 per share. August 14 Issued the stock dividend that was declared on July 31. October 5 Declared a $0.60 per share cash dividend, date of record October 10. $ 283,200 228,800 440,000 952,000 (60,000) $ 892,000 Problem 11-4A (Algo) Part 2 2. What is the total dollar amount for each of the four cash dividends?
Stockholders' Equity (January 1) Common stock-$6 par value, 100,000 shares authorized, 40,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity Stockholders' Equity (December 31) Common stock-$6 par value, 100,000 shares authorized, 47,200 shares issued, 4,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($60,000 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 $0.60 per share cash dividend, date of record January 10. Purchased treasury stock for cash. $ 240,000 200,000 340,000 $ 780,000 March 20 April 5 Declared a $0.60 per share cash dividend, date of record April 10. July 5 Declared a $0.60 per share cash dividend, date of record July 10. July 31 Declared a 20% stock dividend when the stock's market value was $10 per share. August 14 Issued the stock dividend that was declared on July 31. October 5 Declared a $0.60 per share cash dividend, date of record October 10. $ 283,200 228,800 440,000 952,000 (60,000) $ 892,000 Problem 11-4A (Algo) Part 2 2. What is the total dollar amount for each of the four cash dividends?
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter20: Corporations: Organization And Capital Stock
Section: Chapter Questions
Problem 1MP: Stockholders equity accounts and other related accounts of Gonzales Company as of January 1, 20--,...
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Transcribed Image Text:Stockholders' Equity (January 1)
Common stock-$6 par value, 100,000 shares authorized, 40,000 shares issued and
outstanding
Paid-in capital in excess of par value, common stock
Retained earnings
Total stockholders' equity
Stockholders' Equity (December 31)
Common stock-$6 par value, 100,000 shares authorized, 47,200 shares issued, 4,000
shares in treasury
Paid-in capital in excess of par value, common stock
Retained earnings ($60,000 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 $0.60 per share cash dividend, date of record January 10.
Purchased treasury stock for cash.
$ 240,000
200,000
340,000
$ 780,000
March 20
April 5 Declared a $0.60 per share cash dividend, date of record April 10.
July 5 Declared a $0.60 per share cash dividend, date of record July 10.
July 31 Declared a 20% stock dividend when the stock's market value was $10 per share.
August 14 Issued the stock dividend that was declared on July 31.
October 5 Declared a $0.60 per share cash dividend, date of record October 10.
$ 283,200
228,800
440,000
952,000
(60,000)
$ 892,000
Problem 11-4A (Algo) Part 2
2. What is the total dollar amount for each of the four cash dividends?
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