newconnect.mheducation.com work Saved He The following information applies to th

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newconnect.mheducation.com work Saved He The following information applies to the questions displayed below. The equity sections from Atticus Group's 2016 and 2017 year-end balance sheets follow. Stockholders' Equity (December 31, 2016) Common stock-$5 par value, 100,000 shares authorized, 40,000 shares issued and outstanding Paid-in capital in excess of par value, common stoek Retained earnings Total stockholders' equity $ 200,000 160,000 700,000 Stockholders' Equity (December 31, 2017) Conmon stock-$5 par value, 100,000 shares authorized, 47,000 shares issued, 5,000 shares in treasury $235,000 Paid-in capital in excess of par value, common stock Retained earnings (550,000 restricted by treasury stoek 209,000 420,000 864,000 (50,000 $814,000 Less cost of treasury stock Total stockholders equity The following transactions and events affected its equity during year 2017 Jan. 5 Declared a so.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 divi July 5 Declared a $0.50 per share cash divi July 31 Declared a Aug. 14 Issued the stock dividend that was declared on July 31 oct. 5 Declared a so.50 per share cash dividend, date of record October 10. , date of record April 10. , date of record July 10. 20t stock dividend when the stock's market value was $12 per share. 4. What is the per share cost of the treasury stock purchased?

Explanation / Answer

Answer 4. Per Share Cost of the Treasury Stock Purchased = $50,000 (Cost of Treasury Stock) / 5,000 Shares (No. of Shares in Treasury) Per Share Cost of the Treasury Stock Purchased = $10 per Share

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