A company reported the following stockholders’ equity on January 1 of the current year:Common stock–$10 par value, 1,000,000 shares authorized; 270,000 shares issued $ 2,700,000Paid-in capital in excess of par value, common stock 1,280,000Retained earnings 1,695,000Total stockholders’ equity $ 5,675,000Prepare journal entries for the following selected transactions.March 1  Purchased 12,000 shares of its own stock for $25 cash per share.May 5  Sold 6,000 shares of its treasury stock for $25 cash per share.October 12  Sold 4,000 shares of its treasury stock for $26 cash per share.

A company issues 1,030 shares of its common stock for $30,900 cash. Prepare journal entries to record this event under each of the following separate situations.The stock has neither par value nor stated value.The stock has a $1 stated value.The stock has a $2 par value.

Required informationProblem 11-4A (Algo) Analyzing changes in stockholders' equity accounts LO C3, P2, P3Skip to question[The following information applies to the questions displayed below.]The equity sections for Atticus Group at the beginning of the year (January 1) and end of the year (December 31) follow.Stockholders’ Equity (January 1)  Common stock—$4 par value, 100,000 shares authorized, 35,000 shares issued and outstanding $ 140,000Paid-in capital in excess of par value, common stock 100,000Retained earnings 360,000Total stockholders’ equity $ 600,000Stockholders’ Equity (December 31)  Common stock—$4 par value, 100,000 shares authorized, 41,000 shares issued, 5,000 shares in treasury $ 164,000Paid-in capital in excess of par value, common stock 160,000Retained earnings ($40,000 restricted by treasury stock) 400,000  724,000Less cost of treasury stock (40,000)Total stockholders’ equity $ 684,000The following transactions and events affected its equity during the year.January 5 Declared a $0.50 per share cash dividend, date of record January 10.March 20 Purchased treasury stock for cash.April 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 was $14 per share.August 14 Issued the stock dividend that was declared on July 31.October 5 Declared a $0.50 per share cash dividend, date of record October 10.Problem 11-4A (Algo) Part 22. What is the total dollar amount for each of the four cash dividends?

Information concerning common stock as of November 30, the end of the company’s current fiscal year, is presented below.Number of shares outstanding460,000Par value per share$  5.00Dividends paid per share in current year6.00Market price per share54.00Basic earnings per share18.00Diluted earnings per share12.00The price-earnings ratio for the common stock is

Stockholders’ equity of Ernst Company consists of 85,000 shares of $5 par value, 11% cumulative preferred stock and 305,000 shares of $1 par value common stock. Both classes of stock have been outstanding since the company’s inception. Ernst did not declare any dividends in the prior year, but it now declares and pays a $150,000 cash dividend at the current year-end.Determine the amount distributed to each class of stockholders for this two-year-old company.

Marina, Incorporated, acquires 1 million shares of its own $1 par value common stock at $70 per share. It later resells the 1 million shares of treasury stock for $75. We record the $5 difference per share as a:Multiple Choicecredit to Additional Paid-in Capitalrevenue in the income statementcredit to Common Stockgain in the income statement