Dec 10 Dec 20 a. Employees holding 44,000 share subscriptions submitted their final deposit on the share subscription plan. The 1,000 shares subscribed were cancelled due to employees leaving the company. Their deposits on the share subscription plan was refunded. A total of 132,000 common shares were issued on this date. Required - Prepare all journal entries to record the above. Use a minimum of 4 decimals when calculating per share book values (best practice is to cell reference your calculations performed in Excel directly). Prepare a Statement of changes in shareholders' equity for the year ended December 31, 20x4. The net income for the year was $2,500,000. b. The board of directors authorized a $0.30 common share dividend to shareholders of record on December 31, The dividend is payable January 15, 20x5.
Dec 10 Dec 20 a. Employees holding 44,000 share subscriptions submitted their final deposit on the share subscription plan. The 1,000 shares subscribed were cancelled due to employees leaving the company. Their deposits on the share subscription plan was refunded. A total of 132,000 common shares were issued on this date. Required - Prepare all journal entries to record the above. Use a minimum of 4 decimals when calculating per share book values (best practice is to cell reference your calculations performed in Excel directly). Prepare a Statement of changes in shareholders' equity for the year ended December 31, 20x4. The net income for the year was $2,500,000. b. The board of directors authorized a $0.30 common share dividend to shareholders of record on December 31, The dividend is payable January 15, 20x5.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 4 steps
Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education