Jj.84. Prepare the shareholders' equity section of Pronghorn's SFP at December 31, 2020. The company follows IFRS.V:PRONGHORN CORPORATIONShareholders' Equityv$ Pronghorn Corporation's post-closing trial balance at December 31, 2020, was as followsAccounts payableAccounts receivableAccumulated depreciation-buildingsAccumulated other comprehensive incomeAllowance for doubtful accountsBonds payableBuildingsCashCommon shares.Contributed surplus-commonDividends payable on preferred sharesInventoryFV-NI investmentsLandPreferred sharesPrepaid expensesRetained earningsTreasury shares (14,000 common shares)TotalsPRONGHORN CORPORATIONPost-Closing Trial BalanceDecember 31, 2020AuthorizedIssuedOutstandingCommon610,000240,000Preferred61,00011,900Debit11,900$ 480,0001.420.000185,000360,000240,000480,00048,000SCreditAt December 31, 2020, Pronghorn had the following numbers for its common and preferred shares:260.000180,000100,00026,000260,000240,0001,430,0003,650547,400417,950252,000$ 3,465.000 $ 3,465,000The dividends on preferred shares are $6 cumulative. In addition, the preferred shares have a preference in liquidation of 546 pershare.

Stockholders' equity refers to the assets remaining in a business once all liabilities have been…

Answered: oms SFP at Decer PRONGHORN CORPORATION…

Business

Accounting

oms SFP at Decer PRONGHORN CORPORATION Shareholders' Equity v 31, 2020. The company follows IFRS. $

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter13: Investments And Long-term Receivables

Section: Chapter Questions

Problem 2MC: During 2021, Anthony Company purchased debt securities as a long-term investment and classified them...

See similar textbooks

Similar questions

View Policies Current Attempt in Progress The following information was extracted from the accounts of Sandhill Co. at December 31, 2020: CR(DR). Total reported income since incorporation $4810000 Total cash dividends paid (2480000) Unrealized holding loss on available-for-sale securities (368000) Total stock dividends distributed (604000) Prior period adjustment, recorded January 1, 2020 226000 What should be the balance of retained earnings at December 31, 2020? O $1876000. O $ 1584000. O $ 1952000. O $ 3042800. Save for Later Attempts: 0 of 1 used Submit Answ
The following information was extracted from the accounts of Carla Vista Co. at December 31, 2020: Total reported income since incorporation Total cash dividends paid Unrealized holding loss on available-for-sale securities Total stock dividends distributed Prior period adjustment, recorded January 1, 2020 CR(DR) $4710000 (2410000) (353000) (605000) $1569000. $1805000. $2951500. $1922000. 227000 What should be the balance of retained earnings at December 31, 2020?
Comparative Statements of Retained Earnings for Renn-Dever Corporation were reported as follows for the fiscal years ending December 31, 2019, 2020, and 2021. RENN-DEVER CORPORATION Statenents of Retained Earnings For the Years Ended Decenber 31 2020 66,894,692 45,524, 452 $5,674, 552 2,290, 900 2021 2019 Balance at beginning of year Net incone (loss) Deductions: Stock dividend (35,000 shares) Common shares retired, September 30 (120, 000 shares). Common stock cash dividends Balance at end of year 3,313, 700 (150, 100) 247,000 217,660 703, 000 66,894, 692 45, 524, 452 894,950 $9,066, 442 At December 31, 2018, paid-in capital consisted of the following: Common stock, 1,870,000 shares at 61 par Paid in capital-exces of par 61,870,000 7,470, 000 No preferred stock or potential common shares were outstanding during any of the periods shown. Required: Compute Renn-Dever's earnings per share as it would have appeared in income statements for the years ended December 31, 2019, 2020, and 2021.…
Please help me
Wildhorse Company's December 31, 2024 stockholders' equity section reported Accumulated Other Comprehensive Income of $61000 which reflected cumulative gains. The following information is available for Wildhorse for 2025: Net income Realized gain on sale of available-for-sale debt securities Unrealized holding gain on available-for-sale debt securities Unrealized holding loss on available-for-sale equity securities What is Wildhorse's comprehensive income for 2025? O $266500 O $322500 O $307500 O $225500 $266500 36000 41000 21000
please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image)
For the year ended December 31, 2020, Blossom Company reported the following: Net income Preferred dividends declared Common dividend declared Unrealized holding loss, net of tax Retained earnings, beginning balance Common stock Accumulated Other Comprehensive Income, Beginning Balance $300400 $643100 $843100 O $601900 49300 9900 5200 401900 200000 25000 What would Blossom report as total stockholders' equity?
1. How many shares of its stock did 3M repurchase during fiscal 2019? 2. What journal entry did 3M make to record its stock repurchases in fiscal 2019? 3. What journal entry did 3M make to record stock options granted to employees in fiscal 2019?
For the year ended December 31, 2025, Sheridan Inc. reported the following: Net income Preferred dividends declared Common dividends declared Unrealized holding loss, net of tax Retained earnings, beginning balance Common stock Accumulated other comprehensive income, beginning balance (net gains) $496000 $1121600 $1036000 $1079800 $1046200 75400 23400 10200 649000 353800 38100 What would Sheridan report as the ending balance of Retained Earnings?
Subject: accounting
On December 21, 2020, Vaughn Company provided you with the following information regarding its equity investments. Securities Cost Fair Value Unrealized Gain(Loss) SC Corp. stock $43,300 39,520 $(3,780 ) True Co. stock 48,800 55,390 6,590 Plus, Inc. stock 30,200 29,882 (318 ) Total of portfolio $122,300 $124,792 2,492 Previous fair value adjustment balance -0- Fair value adjustment – Dr. $2,492 During 2021, the Plus, Inc. stock was sold for $30,750. The fair value of the stock on December 31, 2021, was: SC Corp. stock—$40,070; True Co. stock—$51,080. None of the equity investments result in significant influence. Prepare the adjusting journal entry needed on December 31, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles…
Sunland Rental Corporation had the following balances in its shareholders' equity accounts at January 1, 2021: Accumulated other comprehensive income (loss) Contributed surplus-reacquisition of common shares Retained earnings Common shares (25,000 shares) Feb. 2 Sunland had the following transactions and events during 2021: Apr. 17 Oct. 29 $ (26,000) Dec. 31 559,000 1,600,000 625.000 Repurchased 1.200 shares for $57,600. Declared and paid cash dividends of $71,000. Issued 1,900 shares for $106,000 cash. Reported comprehensive income of $415,000, which included other comprehensive income of $31.000.