Prepare the shareholders' equity section of the SFP in good form.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Ivanhoe Corporation's charter authorized 1 million $13 par value common shares, and 400,000 5% cumulative and non-participating
preferred shares, with a par value of $100 per share. The corporation made the following share transactions through December 31,
2023:270,000 common shares were issued for $4.05 million and 12,000 preferred shares were issued for machinery valued at
$1,664,000. Subscriptions for 11,400 common shares have been taken, and 30% of the subscription price of $18 per share has been
collected. The shares will be issued when the subscription price is collected in full. In addition, 12,000 common shares have been
repurchased for $17 and retired. The Retained Earnings balance is $250,000 before considering the transactions above.

Transcribed Image Text:Prepare the shareholders' equity section of the SFP in good form.
Shareholders' Equity
Share Capital
Preferred Shares
Common Shares
IVANHOE CORPORATION
Partial Statement of Financial Position
December 31, 2023
$
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