Company – Shares Accounting

Question Stockholders’ Equity ( December 31 2011) Common stock—$ 4 par value 50000 shares authorized 20000 shares issued and outstanding . . . . . . . . . . . . . . $ 80000 Paid- in capital in excess of par value common stock . . . . . . . . . . . . . . . 60000 Retained earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 160000 Total stockholders’ equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 300000 Stockholders’ Equity ( December 31 2012) Common stock—$ 4 par value 50000 shares authorized 23700 shares issued 1500 shares in treasury . . . . . . . . . $ 94800 Paid- in capital in excess of par value common stock . . . . . . . . . . . . . . . 89600 Retained earnings ($ 15000 restricted by treasury stock) . . . . . . . . . . . 200000 384400 Less cost of treasury stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .( 15000) Total stockholders’ equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 369400 The following transactions and events affected its equity during year 2012. Jan. 5 Declared a $ 0.50 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 dividend date of record April 10. July 5 Declared a $ 0.50 per share cash dividend date of record July 10. July 31 Declared a 20% stock dividend when the stock’s market value is $ 12 per share. Aug. 14 Issued the stock dividend that was declared on July 31. Oct. 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? 2. What is the total dollar amount for each of the four cash dividends? 3. What is the amount of the capitalization of retained earnings for the stock dividend? 4. What is the per share cost of the treasury stock purchased? 5. How much net income did the company earn during year 2012?

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