Current Attempt in Progress Pearl City Corporation reported the following statement of changes in equity for the year ended December 31, 2024. PEARL CITY CORPORATION Statement of Changes in Equity Year Ended December 31, 2024 Pearl City had an unlimited number of common shares authorized and 550,000 shares issued at December 31. Prepare the shareholders' equity section of its statement of financial position at December 31, 2024. (Enter account name only and do not provide descriptive information.)
Current Attempt in Progress Pearl City Corporation reported the following statement of changes in equity for the year ended December 31, 2024. PEARL CITY CORPORATION Statement of Changes in Equity Year Ended December 31, 2024 Pearl City had an unlimited number of common shares authorized and 550,000 shares issued at December 31. Prepare the shareholders' equity section of its statement of financial position at December 31, 2024. (Enter account name only and do not provide descriptive information.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Current Attempt in Progress Pearl City Corporation reported the following statement of changes in equity for the year
ended December 31, 2024. PEARL CITY CORPORATION Statement of Changes in Equity Year Ended December
31, 2024 Pearl City had an unlimited number of common shares authorized and 550,000 shares issued at December
31. Prepare the shareholders' equity section of its statement of financial position at December 31, 2024. (Enter account
name only and do not provide descriptive information.)
C
Current Attempt in Progress
Pearl City Corporation reported the following statement of changes in equity for the year ended December 31, 2024.
PEARL CITY CORPORATION
Statement of Changes in Equity
Year Ended December 31, 2024
Accumulated
Common
Shares
Bal., Jan. 1
$1,455,000
Contributed
Surplus
$485,000
Retained
Earnings
$2,910,000
Other
Comprehensive
Income
Total
$97,000
$4,947,000
Issued common shares
426,800
426,800
Declared and issued stock dividend
106,700
Declared cash dividends
(106,700)
(130,950)
0
(130,950)
Comprehensive income
Net income
727,500
727,500
Other comprehensive income
24,250
24,250
Bal., Dec. 31
$1,988,500
$485,000 $3,399,850
$121,250
$5,994,600
Pearl City had an unlimited number of common shares authorized and 550,000 shares issued at December 31. Prepare the
shareholders' equity section of its statement of financial position at December 31, 2024. (Enter account name only and do not provide
descriptive information.)
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