CarFind Inc. showed the following equity information at December 31, 2022 Common shares, unlimited shares authorized; 4,100,000 shares issued and outstanding Retained earnings $1,010,000 1,380,000 On April 1, 2023, 210,000 common shares were issued at $0.70 per share. On June 1, the board of directors declared a 5% share ividend 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 uly 1 were $2.98, $1.86, and $2.46, respectively. On December 11, the board of directors declared a 21 share split to shareholders of ecord on December 15, the distribution date was December 20. Profit earned during the year was $1,495,000. equired: epare the company's equity section on the December 31, 2023, balance sheet
CarFind Inc. showed the following equity information at December 31, 2022 Common shares, unlimited shares authorized; 4,100,000 shares issued and outstanding Retained earnings $1,010,000 1,380,000 On April 1, 2023, 210,000 common shares were issued at $0.70 per share. On June 1, the board of directors declared a 5% share ividend 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 uly 1 were $2.98, $1.86, and $2.46, respectively. On December 11, the board of directors declared a 21 share split to shareholders of ecord on December 15, the distribution date was December 20. Profit earned during the year was $1,495,000. equired: epare the company's equity section on the December 31, 2023, balance sheet
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:CarFind Inc. showed the following equity information at December 31, 2022
Common shares, unlimited shares authorized; 4,100,000
shares issued and outstanding
Retained earnings
On April 1, 2023, 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 21 share split to shareholders of
record on December 15, the distribution date was December 20. Profit earned during the year was $1,495,000.
$1,010,000
1,380,000
Required:
Prepare the company's equity section on the December 31, 2023, balance sheet.
Contributed capital:
Total equity
CARFIND INC.
Equity Section of Balance Sheet
December 31, 2023
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