After closing the books at month end on June 30, 2020, Slayter Corporation's shareholders' equity section shows the following balances: Contributed Capital Common shares, unlimited shares authorized 28,000 shares issued and outstanding $310,000 Retained Earnings $840,000 $1,150,000 Total Shareholders' Equity Do not enter dollar signs.or.commas in the input.boxes. Scenario 1 The company declared and immediately distributed a 50% stock dividend. Current market price was $15. The company recorded the stock dividend by debiting Retained Earnings. a) Calculate the balance of retained earnings after the stock dividend. Slayter Corporation Statement of Retained Earnings For the Month Ended June 30, 2020 Opening Balance Less: Stock Dividend Balance-June 30, 2020 b) Prepare the shareholders' equity section of balance sheet as at June 30, 2020 (after the stock dividend has been distributed).
After closing the books at month end on June 30, 2020, Slayter Corporation's shareholders' equity section shows the following balances: Contributed Capital Common shares, unlimited shares authorized 28,000 shares issued and outstanding $310,000 Retained Earnings $840,000 $1,150,000 Total Shareholders' Equity Do not enter dollar signs.or.commas in the input.boxes. Scenario 1 The company declared and immediately distributed a 50% stock dividend. Current market price was $15. The company recorded the stock dividend by debiting Retained Earnings. a) Calculate the balance of retained earnings after the stock dividend. Slayter Corporation Statement of Retained Earnings For the Month Ended June 30, 2020 Opening Balance Less: Stock Dividend Balance-June 30, 2020 b) Prepare the shareholders' equity section of balance sheet as at June 30, 2020 (after the stock dividend has been distributed).
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter15: Contributed Capital
Section: Chapter Questions
Problem 16E: Contributed Capital Adams Companys records provide the following information on December 31, 2019:...
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