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Kaye Biotech Inc. had the following equity account balances at December 31, 2022: Preferred shares, $2.65, non-cumulative, Authorized: 20,800 shares Issued and outstanding: 5,400 shares Common shares, Authorized: Unlimited Issued and outstanding: 87,000 shares Retained earnings $ 37,800 294,464 42,200 On February 1, 2023, 5,400 preferred shares were issued at $8.10 each. The board of directors declared and paid the annual cas dividend on the preferred shares on June 30, 2023, and a 13% common share dividend was declared and distributed on the same when the market price per common share was $4.40. On October 1, 2023, 20,800 common shares were issued at $4.54 each. Pri earned during 2023 was $412,800. KAYE BIOTECH INC. Statement of Changes in Equity Required: Using the information provided, prepare the statement of changes in equity for the year ended December 31, 2023. (Amounts to deducted should be indicated by a minus sign.)

Kaye Biotech Inc. had the following equity account balances at December 31, 2022: Preferred shares, $2.65, non-cumulative, Authorized: 20,800 shares Issued and outstanding: 5,400 shares Common shares, Authorized: Unlimited Issued and outstanding: 87,000 shares Retained earnings $ 37,800 294,464 42,200 On February 1, 2023, 5,400 preferred shares were issued at $8.10 each. The board of directors declared and paid the annual cas dividend on the preferred shares on June 30, 2023, and a 13% common share dividend was declared and distributed on the same when the market price per common share was $4.40. On October 1, 2023, 20,800 common shares were issued at $4.54 each. Pri earned during 2023 was $412,800. KAYE BIOTECH INC. Statement of Changes in Equity Required: Using the information provided, prepare the statement of changes in equity for the year ended December 31, 2023. (Amounts to deducted should be indicated by a minus sign.)

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Kaye Blotech Inc. had the following equity account balances at December 31, 2022: Preferred shares, $2.55, non-cumulative, Authorized: 20,800 shares Issued and outstanding: 5,400 shares Common shares, Authorized: Unlimited Issued and outstanding: 87,000 shares Retained earnings On February 1, 2023, 5,400 preferred shares were issued at $8.10 each. The board of directors declared and paid the annual cash dividend on the preferred shares on June 30, 2023, and a 13% common share dividend was declared and distributed on the same day! when the market price per common share was $4.40. On October 1, 2023, 20,800 common shares were issued at $4.54 each. Profit earned during 2023 was $412,800. Balance, January 1 Preferred shares issued Common shares issued Menneend each dandande Required: Using the information provided, prepare the statement of changes in equity for the year ended December 31, 2023. (Amounts to be deducted should be indicated by a minus sign.) KAYE BIOTECH INC. Statement of Changes in Equity For Year Ended December 31, 2023 $ 37,800 294,464 42,200 $ 37,800 $ 294,464 43,740 Preferred Common Retained Shares Shares 94,432 Total Equity Earnings $ 42,200 S 374.464 43,740 94,432
Transcribed Image Text:Kaye Blotech Inc. had the following equity account balances at December 31, 2022: Preferred shares, $2.55, non-cumulative, Authorized: 20,800 shares Issued and outstanding: 5,400 shares Common shares, Authorized: Unlimited Issued and outstanding: 87,000 shares Retained earnings On February 1, 2023, 5,400 preferred shares were issued at $8.10 each. The board of directors declared and paid the annual cash dividend on the preferred shares on June 30, 2023, and a 13% common share dividend was declared and distributed on the same day! when the market price per common share was $4.40. On October 1, 2023, 20,800 common shares were issued at $4.54 each. Profit earned during 2023 was $412,800. Balance, January 1 Preferred shares issued Common shares issued Menneend each dandande Required: Using the information provided, prepare the statement of changes in equity for the year ended December 31, 2023. (Amounts to be deducted should be indicated by a minus sign.) KAYE BIOTECH INC. Statement of Changes in Equity For Year Ended December 31, 2023 $ 37,800 294,464 42,200 $ 37,800 $ 294,464 43,740 Preferred Common Retained Shares Shares 94,432 Total Equity Earnings $ 42,200 S 374.464 43,740 94,432
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