Question-based on, "prepare balance sheet". I have tried it but don't understand. On January 1, 2020, Ivanhoe Corporation had the following stockholders' equity accounts.Common Stock (no par value, 94,000 shares issued and outstanding)$1,400,000Retained Earnings543,000During 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 $39.1Declared a 6% stock dividend to stockholders of record on July 15, distributable July 31. On July 1, the market price ofthe stock was $10 per share.July131Issued the shares for the stock dividend.Dec.Declared a $0.50 per share dividend to stockholders of record on December 15, payable January 5, 2021.131Determined that net income for the year was $323,000. Prepare the stockholders' equity section of the balance sheet at June 30. (Enter account name only and do not provide descriptiveinformation. Round answers to 0 decimal places, e.g. 5,250.)IVANHOE CORPORATIONPartial Balance Sheet2$2$

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Answered: On January 1, 2020, Ivanhoe Corporation…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Question-based on, "prepare balance sheet".

I have tried it but don't understand.

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.

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$

Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

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