Dec 10 Dec 20 a. Employees holding 44,000 share subscriptions submitted their final deposit on the share subscription plan. The 1,000 shares subscribed were cancelled due to employees leaving the company. Their deposits on the share subscription plan was refunded. A total of 132,000 common shares were issued on this date. Required - Prepare all journal entries to record the above. Use a minimum of 4 decimals when calculating per share book values (best practice is to cell reference your calculations performed in Excel directly). Prepare a Statement of changes in shareholders' equity for the year ended December 31, 20x4. The net income for the year was $2,500,000. b. The board of directors authorized a $0.30 common share dividend to shareholders of record on December 31, The dividend is payable January 15, 20x5.
Dec 10 Dec 20 a. Employees holding 44,000 share subscriptions submitted their final deposit on the share subscription plan. The 1,000 shares subscribed were cancelled due to employees leaving the company. Their deposits on the share subscription plan was refunded. A total of 132,000 common shares were issued on this date. Required - Prepare all journal entries to record the above. Use a minimum of 4 decimals when calculating per share book values (best practice is to cell reference your calculations performed in Excel directly). Prepare a Statement of changes in shareholders' equity for the year ended December 31, 20x4. The net income for the year was $2,500,000. b. The board of directors authorized a $0.30 common share dividend to shareholders of record on December 31, The dividend is payable January 15, 20x5.
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter20: Corporations: Organization And Capital Stock
Section: Chapter Questions
Problem 3CE: Prepare general journal entries for the following transactions of GOTE Company: (a) Received...
Related questions
Question
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 4 steps
Recommended textbooks for you
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
College Accounting, Chapters 1-27 (New in Account…
Accounting
ISBN:
9781305666160
Author:
James A. Heintz, Robert W. Parry
Publisher:
Cengage Learning
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
College Accounting, Chapters 1-27 (New in Account…
Accounting
ISBN:
9781305666160
Author:
James A. Heintz, Robert W. Parry
Publisher:
Cengage Learning
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Financial Accounting
Accounting
ISBN:
9781305088436
Author:
Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning