Stockholders’ Equity (December 31, 2015) The following transactions and events a

Question

Stockholders’ Equity (December 31, 2015)

         

The following transactions and events affected its equity during year 2016.

Declared a $0.50 per share cash dividend, date of record October 10.

How many common shares are outstanding on each cash dividend date? Jan 5. April 5. July 5. Oct. 5

Stockholders’ Equity (December 31, 2015)

Common stock—$4 par value, 100,000 shares authorized, 40,000 shares issued and outstanding $ 160,000 Paid-in capital in excess of par value, common stock 120,000 Retained earnings 320,000 Total stockholders’ equity $ 600,000

Explanation / Answer

5/1/2016 5/4/2016 5/7/2016 5/10/2016 Shares outstanding 40000 37000 37000 44400 Shares outstanding Shares outstanding less treasury stock Shares outstanding less treasury stock (Shares outstanding less treasury stock) x 1.20

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