On January 1, 2024, Ivanhoe Ltd. had the following shareholders' equity accounts: Common shares (1,060,000 issued) $1,590,000 Retained earnings 1,908,000 The company was also authorized to issue an unlimited number of $4 noncumulative preferred shares. As at January 1, 2024, none had been issued. During 2024, the corporating had the following transactions and events related to its shareholders' equity Jan. 2 Issued 106,000 preferred shares for $50 per share. Mar. 31 Paid quarterly dividend to preferred shareholders. June 30 Paid quarterly dividend to preferred shareholders. Aug. 12 Issued 98,000 common shares for $1.70 per share. Sept. 30 Paid quarterly dividend to preferred shareholders. Dec. 31 Paid quarterly dividend to preferred shareholders and a $0.25 per share dividend to the common shareholders Dec. 31 Loss for the year was $101.500.
On January 1, 2024, Ivanhoe Ltd. had the following shareholders' equity accounts: Common shares (1,060,000 issued) $1,590,000 Retained earnings 1,908,000 The company was also authorized to issue an unlimited number of $4 noncumulative preferred shares. As at January 1, 2024, none had been issued. During 2024, the corporating had the following transactions and events related to its shareholders' equity Jan. 2 Issued 106,000 preferred shares for $50 per share. Mar. 31 Paid quarterly dividend to preferred shareholders. June 30 Paid quarterly dividend to preferred shareholders. Aug. 12 Issued 98,000 common shares for $1.70 per share. Sept. 30 Paid quarterly dividend to preferred shareholders. Dec. 31 Paid quarterly dividend to preferred shareholders and a $0.25 per share dividend to the common shareholders Dec. 31 Loss for the year was $101.500.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Prepare the shareholders' equity section of the balance sheet at December 31, 2024, including any required disclosures. Assume
Ivanhoe is reporting under ASPE. (Enter account name only and do not provide descriptive information.)
Tovthonk and Media
IVANHOE LTD.
Balance Sheet (Partial)
Transcribed Image Text:On January 1, 2024, Ivanhoe Ltd. had the following shareholders' equity accounts:
Common shares (1,060,000 issued)
Retained earnings
$1,590,000
1,908,000
The company was also authorized to issue an unlimited number of $4 noncumulative preferred shares. As at January 1, 2024, none
had been issued. During 2024, the corporating had the following transactions and events related to its shareholders' equity.
Jan. 2 Issued 106,000 preferred shares for $50 per share.
Paid quarterly dividend to preferred shareholders.
Paid quarterly dividend to preferred shareholders.
Issued 98,000 common shares for $1.70 per share.
Paid quarterly dividend to preferred shareholders.
Paid quarterly dividend to preferred shareholders and a $0.25 per share dividend to the common shareholders.
Loss for the year was $101,500.
Mar. 31
June 30
Aug. 12
Sept. 30
Dec. 31
Dec. 31
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