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White Pear Inc., an organic soap manufacturer, showed the following equity information as at December 31, 2020: white Pear Inc. Equity Section of the Balance Sheet December 31, 2020 Contributed capital: Preferred shares, $3.60 non-cumulative; 100,000 shares authorized 69,000 shares issued and outstanding Common shares; unlimited shares authorized; ? shares issued and outstanding Total contributed capital Retained earnings Total equity $5,062,000 Other information: a. The preferred shares had sold for an average price of $30.00. b. The common shares had sold for an average price of $13.60. c. Retained Earnings at December 31, 2019, was $186,000. During 2020, profit earned was $1,668,000. The board of directors declared a total cash dividend of $510,000. Required: Calculate the missing figures. WHITE PEAR INC. Equity Section of the Balance Sheet December 31, 2020 Contributed capital: Preferred shares, $3.60 non-cumulative; 100,000 shares authorized 69,000 shares issued and outstanding Common shares; unlimited shares authorized; shares issued and outstanding Total contributed capital $ 5,062,000| Retained earnings Total equity

White Pear Inc., an organic soap manufacturer, showed the following equity information as at December 31, 2020: white Pear Inc. Equity Section of the Balance Sheet December 31, 2020 Contributed capital: Preferred shares, $3.60 non-cumulative; 100,000 shares authorized 69,000 shares issued and outstanding Common shares; unlimited shares authorized; ? shares issued and outstanding Total contributed capital Retained earnings Total equity $5,062,000 Other information: a. The preferred shares had sold for an average price of $30.00. b. The common shares had sold for an average price of $13.60. c. Retained Earnings at December 31, 2019, was $186,000. During 2020, profit earned was $1,668,000. The board of directors declared a total cash dividend of $510,000. Required: Calculate the missing figures. WHITE PEAR INC. Equity Section of the Balance Sheet December 31, 2020 Contributed capital: Preferred shares, $3.60 non-cumulative; 100,000 shares authorized 69,000 shares issued and outstanding Common shares; unlimited shares authorized; shares issued and outstanding Total contributed capital $ 5,062,000| Retained earnings Total equity

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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White Pear Inc., an organic soap manufacturer, showed the following equity information as at December 31, 2020: white Pear Inc. Equity Section of the Balance Sheet December 31, 2020 Contributed capital: Preferred shares, $3.60 non-cumulative; 100,000 shares authorized 69,000 shares issued and outstanding Common shares; unlimited shares authorized; ? shares issued and outstanding Total contributed capital Retained earnings Total equity $5,062,000 Other information: a. The preferred shares had sold for an average price of $30.00. b. The common shares had sold for an average price of $13.60. c. Retained Earnings at December 31, 2019, was $186,000. During 2020, profit earned was $1,668,000. The board of directors declared a total cash dividend of $510,000. Required: Calculate the missing figures. WHITE PEAR INC. Equity Section of the Balance Sheet December 31, 2020 Contributed capital: Preferred shares, $3.60 non-cumulative; 100,000 shares authorized 69,000 shares issued and outstanding Common shares; unlimited shares authorized; shares issued and outstanding Total contributed capital $ 5,062,000 Retained earnings Total equity
Transcribed Image Text:White Pear Inc., an organic soap manufacturer, showed the following equity information as at December 31, 2020: white Pear Inc. Equity Section of the Balance Sheet December 31, 2020 Contributed capital: Preferred shares, $3.60 non-cumulative; 100,000 shares authorized 69,000 shares issued and outstanding Common shares; unlimited shares authorized; ? shares issued and outstanding Total contributed capital Retained earnings Total equity $5,062,000 Other information: a. The preferred shares had sold for an average price of $30.00. b. The common shares had sold for an average price of $13.60. c. Retained Earnings at December 31, 2019, was $186,000. During 2020, profit earned was $1,668,000. The board of directors declared a total cash dividend of $510,000. Required: Calculate the missing figures. WHITE PEAR INC. Equity Section of the Balance Sheet December 31, 2020 Contributed capital: Preferred shares, $3.60 non-cumulative; 100,000 shares authorized 69,000 shares issued and outstanding Common shares; unlimited shares authorized; shares issued and outstanding Total contributed capital $ 5,062,000 Retained earnings Total equity
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