On January 1, 2022, Ivanhoe Corporation had the following stockholders’ equity accounts. Common Stock (no par value, 87,000 shares issued and outstanding)   $1,355,000 Retained Earnings   494,000 During the year, the following transactions occurred. Feb. 1   Declared a $1 cash dividend per share to stockholders of record on February 15, payable March 1. Mar. 1   Paid the dividend declared in February. Apr. 1   Announced a 3-for-1 stock split. Prior to the split, the market price per share was $35. July 1   Declared a 5% stock dividend to stockholders of record on July 15, distributable July 31. On July 1, the market price of the stock was $12 per share. 31   Issued the shares for the stock dividend. Dec. 1   Declared a $0.30 per share dividend to stockholders of record on December 15, payable January 5, 2023. 31   Determined that net income for the year was $378,000.     Prepare the stockholders' equity section of the balance sheet at March 31, June 30, September 30, and December 31.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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On January 1, 2022, Ivanhoe Corporation had the following stockholders’ equity accounts.

Common Stock (no par value, 87,000 shares issued and outstanding)   $1,355,000
Retained Earnings   494,000

During the year, the following transactions occurred.

Feb. 1   Declared a $1 cash dividend per share to stockholders of record on February 15, payable March 1.
Mar. 1   Paid the dividend declared in February.
Apr. 1   Announced a 3-for-1 stock split. Prior to the split, the market price per share was $35.
July 1   Declared a 5% stock dividend to stockholders of record on July 15, distributable July 31. On July 1, the market price of the stock was $12 per share.
31   Issued the shares for the stock dividend.
Dec. 1   Declared a $0.30 per share dividend to stockholders of record on December 15, payable January 5, 2023.
31  

Determined that net income for the year was $378,000.

 

 

Prepare the stockholders' equity section of the balance sheet at March 31, June 30, September 30, and December 31.

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