Cash dividend Assignment

Stockholders’ Equity (December 31, 2002)
Common Stock – $4 par value, 50,000 shares authorized, 20,000 shares issued and outstanding

Contributed capital in excess of par value, common stock
Total contributed capital
Retained Earnings
Total Stockholders’ Equity

Stockholders’ Equity (December 31, 2003)
Common Stock – $4 par value, 50,000 shares authorized,23,700 shares issued,1,500 shares in treasury

Contributed capital in excess of par value, common stock
Total contributed capital
Retained Earnings ($57,200 restricted by Treasury Stock)
$200,000 = 384,400
Less Treasury Stock at Cost
Total Stockholders’ Equity

The following transactions and events affect its equity accounts during year 2003:

Feb. 15 Declared a $0.50 per share cash dividend, date of record February 20.
Mar. 2 Purchased treasury stock for cash.
May 15 Declared a $0.50 per share cash dividend, date of record May 20.
Aug. 15 Declared a $0.50 per share cash dividend, date of record August 20.
Oct.4 Declared a 20% stock dividend when the stock’s market value is $12 per share.
Oct. 20 Issued a stock dividend that was declared on October 4.
Nov. 15 Declared a $0.50 per share cash dividend, date of record November 20.


1. How many common shares are outstanding on each cash dividend date?
*To find this, do I need to subtract the issued stock by the treasury stock
2. What is the total dollar amount for each of the four cash dividends?
*Honestly, I don’t understand.
3. What is the amount of the capitalization of retained earnings for the stock dividend?
*The teacher got an answer of $44,400. I have know idea how and could you explain what it means by capitalization.
4. What is the per share cost of the treasury stock purchased?
*I have know idea how she got answer of $10 per share either.
5. How much net income did the company earn during year 2003?
*Did she get an answer of $124,000 by simply subtracting beginning retained earnings by the end retained earnings and adding the dividends.

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