[The following information applies to the questions displayed below.] The equity

Question

[The following information applies to the questions displayed below.]

The equity sections from Atticus Group’s 2016 and 2017 year-end balance sheets follow.

The following transactions and events affected its equity during year 2017.

Problem 13-4A Part 1

Required:
1. How many common shares are outstanding on each cash dividend date?

The following information applies to the questions displayed below.]

The equity sections from Atticus Group’s 2016 and 2017 year-end balance sheets follow.

The following transactions and events affected its equity during year 2017.

Problem 13-4A Part 2

2. What is the total dollar amount for each of the four cash dividends?

Stockholders’ Equity (December 31, 2016) Common stock—$5 par value, 100,000 shares
authorized, 35,000 shares issued and outstanding $ 175,000 Paid-in capital in excess of par value, common stock 135,000 Retained earnings 340,000 Total stockholders’ equity $ 650,000

Explanation / Answer

Calculations:

1 Cash dividend date Common stock
(no. of shares outstanding) Jan. 5, 2017 35000 Apr. 5, 2017 31000 Jul. 5, 2017 31000 Oct. 5, 2017 37200 2 Cash dividend date Cash dividends $ Jan. 5, 2017 17500 Apr. 5, 2017 15500 Jul. 5, 2017 15500 Oct. 5, 2017 18600 Total $ 67100

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