answer very soon The balance sheet for Umi Sustainable Seafood Inc. reported the following components of equity on December 31,2019:Common shares, unlimited shares authorized, 20,500 sharesissued and outstandingRetained earnings$373,000221,000Total equity$594,000In 2020, Umi had the following transactions affecting shareholders and the equity accounts:5 The directors declared a $3.70 per share cash dividend payable on Feb. 28 to theJan.Feb. 5 shareholders of record.28 Paid the dividend declared on January 5.6 Sold 1,000 common shares at $38.90 per share.22 Sold 1,500 common shares at $27.70 per share.5 The directors declared a $3.70 per share cash dividend payable on October 28 to theFeb.JulyAug.Sept.October 5 shareholders of record.28 Paid the dividend declared on September 5.31 Closed the $347,700 credit balance in the Income Summary account.Oct.Dec.31 Closed the Cash Dividends account.2. Prepare a statement of changes in equity for the year ended December 31, 2020. (Amounts to be deducted shouldbe indicated by a minus sign.)

Common Stock Retained Earnings Total Equity Balance as on December 31, 2019 $…

The balance sheet for Umi Sustainable Seafood Inc. reported the following components of equity on December 31, 2019: Common shares, unlimited shares authorized, 20,500 shares issued and outstanding Retained earnings $373,000 221,000 $594, 000 Total equity In 2020, Umi had the following transactions affecting shareholders and the equity accounts: 5 The directors declared a $3.70 per share cash dividend payable on Feb. 28 to the Jan.

The balance sheet for Umi Sustainable Seafood Inc. reported the following components of equity on December 31, 2019: Common shares, unlimited shares authorized, 20,500 shares issued and outstanding Retained earnings $373,000 221,000 $594, 000 Total equity In 2020, Umi had the following transactions affecting shareholders and the equity accounts: 5 The directors declared a $3.70 per share cash dividend payable on Feb. 28 to the Jan.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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