On January 1, 2020, Ivanhoe Corporation had the following stockholders' equity accounts. Common Stock (no par value, 94,000 shares issued and outstanding) $1,400,000 Retained Earnings 543,000 During the year, the following transactions occurred. Feb. Declared a $1 cash dividend per share to stockholders of record on February 15, payable March 1. 1 Mar. Paid the dividend declared in February. 1 Apr. Announced a 3-for-1 stock split. Prior to the split, the market price per share was $39. 1 Declared a 6% stock dividend to stockholders of record on July 15, distributable July 31. On July 1, the market price of the stock was $10 per share. July 1 31 Issued the shares for the stock dividend. Dec. Declared a $0.50 per share dividend to stockholders of record on December 15, payable January 5, 2021. 1 31 Determined that net income for the year was $323,000.
On January 1, 2020, Ivanhoe Corporation had the following stockholders' equity accounts. Common Stock (no par value, 94,000 shares issued and outstanding) $1,400,000 Retained Earnings 543,000 During the year, the following transactions occurred. Feb. Declared a $1 cash dividend per share to stockholders of record on February 15, payable March 1. 1 Mar. Paid the dividend declared in February. 1 Apr. Announced a 3-for-1 stock split. Prior to the split, the market price per share was $39. 1 Declared a 6% stock dividend to stockholders of record on July 15, distributable July 31. On July 1, the market price of the stock was $10 per share. July 1 31 Issued the shares for the stock dividend. Dec. Declared a $0.50 per share dividend to stockholders of record on December 15, payable January 5, 2021. 1 31 Determined that net income for the year was $323,000.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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
Transcribed Image Text:On January 1, 2020, Ivanhoe Corporation had the following stockholders' equity accounts.
Common Stock (no par value, 94,000 shares issued and outstanding)
$1,400,000
Retained Earnings
543,000
During the year, the following transactions occurred.
Feb.
Declared a $1 cash dividend per share to stockholders of record on February 15, payable March 1.
Mar.
Paid the dividend declared in February.
Apr.
Announced a 3-for-1 stock split. Prior to the split, the market price per share was $39.
1
Declared a 6% stock dividend to stockholders of record on July 15, distributable July 31. On July 1, the market price of
the stock was $10 per share.
July
1
31
Issued the shares for the stock dividend.
Dec.
Declared a $0.50 per share dividend to stockholders of record on December 15, payable January 5, 2021.
1
31
Determined that net income for the year was $323,000.

Transcribed Image Text:Prepare the stockholders' equity section of the balance sheet at June 30. (Enter account name only and do not provide descriptive
information. Round answers to 0 decimal places, e.g. 5,250.)
IVANHOE CORPORATION
Partial Balance Sheet
2$
2$
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