Question

Required information The following information applies to the questions displayed below.] Part 4 of 5 The equity sections for Atticus Group at the beginning of the year (January 1) and end of the year (December 31) follow. 1.66 points Stockholders' Equity (January 1) Common stock-$4 par value, 100,000 shares authorized, 35,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 140,000 100,000 340,000 $ 580,000 eBook Print Stockholders' Equity (December 31) Common stock-$4 par value, 100,000 shares authorized, 41,000 shares issued, 5,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($60,000 restricted by treasury stock) $164,000 160,000 420,000 744,000 (60,000) $684,000 Less cost of treasury stock Total stockholders' equity The following transactions and events affected its equity during the year. Jan. 5 Declared a $0.60 per share cash dividend, date of record January 10. Mar. 20 Purchased treasury stock for cash. Apr. 5 Declared a $0.60 per share cash dividend, date of record April 10. July 5 Declared a $0.60 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. Aug. 14 Issued the stock dividend that was declared on July 31. Oct. 5 Declared a $0.60 per share cash dividend, date of record October 10. 4. What is the per share cost of the treasury stock purchased? (Round your answer to 2 decimal places.) Cost per share

Answer 1

Cost per share = Amount of treasury stock/Treasury share

= 60000/5000

Cost per share = 12 per share