CarFind Inc. showed the following equity information at December 31, 2019. Common shares, unlimited shares authorized; 4,100,000 shares issued and outstanding Retained earnings $1,010, 080 1,380, e00 On April 1, 2020, 210,000 common shares were issued at $0.70 per share. On June 1, the board of directors declared a 5% share dividend to shareholders of record on June 15; the distribution date was July 1. The market prices of the shares on June 1, June 15, and July 1 were $2.98, $1.86, and $2.46, respectively. On December 11, the board of directors declared a 2:1 share split to shareholders of record on December 15; the distribution date was December 20. Profit earned during the year was $1,495,000. Required: Prepare the company's equity section on the December 31, 2020, balance sheet. CARFIND INC. Equity Section of Balance Sheet December 31, 2020 Contributed capital: Total equity
CarFind Inc. showed the following equity information at December 31, 2019. Common shares, unlimited shares authorized; 4,100,000 shares issued and outstanding Retained earnings $1,010, 080 1,380, e00 On April 1, 2020, 210,000 common shares were issued at $0.70 per share. On June 1, the board of directors declared a 5% share dividend to shareholders of record on June 15; the distribution date was July 1. The market prices of the shares on June 1, June 15, and July 1 were $2.98, $1.86, and $2.46, respectively. On December 11, the board of directors declared a 2:1 share split to shareholders of record on December 15; the distribution date was December 20. Profit earned during the year was $1,495,000. Required: Prepare the company's equity section on the December 31, 2020, balance sheet. CARFIND INC. Equity Section of Balance Sheet December 31, 2020 Contributed capital: Total equity
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:CarFind Inc. showed the following equity information at December 31, 2019.
Common shares, unlimited shares authorized;
4,100,000 shares issued and outstanding
Retained earnings
$1,010, 000
1,380, 000
On April 1, 2020, 210,000 common shares were issued at $0.70 per share. On June 1, the board of directors declared a 5% share
dividend to shareholders of record on June 15; the distribution date was July 1. The market prices of the shares on June 1, June 15, and
July 1 were $2.98, $1.86, and $2.46, respectively. On December 11, the board of directors declared a 2:1 share split to shareholders of
record on December 15; the distribution date was December 20. Profit earned during the year was $1,495,000.
Required:
Prepare the company's equity section on the December 31, 2020, balance sheet.
CARFIND INC.
Equity Section of Balance Sheet
December 31, 2020
Contributed capital:
Total equity
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