Homework Help is Here – Start Your Trial Now!
Business
Accounting
On January 1, 2020, Ivanhoe Corporation had the following stockholders' equity accounts. Common Stock (no par value, 94,000 shares issued and outstanding) $1,400,000 Retained Earnings 543,000 During the year, the following transactions occurred. Feb. Declared a $1 cash dividend per share to stockholders of record on February 15, payable March 1. 1 Mar. Paid the dividend declared in February. 1 Apr. Announced a 3-for-1 stock split. Prior to the split, the market price per share was $39. 1 July Declared a 6% stock dividend to stockholders of record on July 15, distributable July 31. On July 1, the market price of the stock was $10 per share. 1 31 Issued the shares for the stock dividend. Dec. Declared a $0.50 per share dividend to stockholders of record on December 15, payable January 5, 2021. 1 31 Determined that net income for the year was $323,000.

On January 1, 2020, Ivanhoe Corporation had the following stockholders' equity accounts. Common Stock (no par value, 94,000 shares issued and outstanding) $1,400,000 Retained Earnings 543,000 During the year, the following transactions occurred. Feb. Declared a $1 cash dividend per share to stockholders of record on February 15, payable March 1. 1 Mar. Paid the dividend declared in February. 1 Apr. Announced a 3-for-1 stock split. Prior to the split, the market price per share was $39. 1 July Declared a 6% stock dividend to stockholders of record on July 15, distributable July 31. On July 1, the market price of the stock was $10 per share. 1 31 Issued the shares for the stock dividend. Dec. Declared a $0.50 per share dividend to stockholders of record on December 15, payable January 5, 2021. 1 31 Determined that net income for the year was $323,000.

Intermediate Accounting: Reporting And Analysis
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
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 1MC: Cash dividends on the 10 par value common stock of Garrett Company were as follows: The 4th-quarter...
See similar textbooks
icon
Related questions
Question
100%

Question-based on, "Equity section of the balance sheet".

 

I have tried it but got incorrect. The red outline boxes are incorrect. 

 

Thanks for the help.

Prepare the stockholders' equity section of the balance sheet at September 30. (Enter account name only and do not provide descriptive information. Round answers to O decimal places, e.g. 5,250.) IVANHOE CORPORATION Partial Balance Sheet September 30, 2020 Stockholders' Equity Paid-in Capital Capital Stock Common Stock 1,596,200 Retained Earnings 449,000 Total Stockholders' Equity 2,018,200 %24 %24
Transcribed Image Text:Prepare the stockholders' equity section of the balance sheet at September 30. (Enter account name only and do not provide descriptive information. Round answers to O decimal places, e.g. 5,250.) IVANHOE CORPORATION Partial Balance Sheet September 30, 2020 Stockholders' Equity Paid-in Capital Capital Stock Common Stock 1,596,200 Retained Earnings 449,000 Total Stockholders' Equity 2,018,200 %24 %24
On January 1, 2020, Ivanhoe Corporation had the following stockholders' equity accounts. Common Stock (no par value, 94,000 shares issued and outstanding) $1,400,000 Retained Earnings 543,000 During the year, the following transactions occurred. Feb. Declared a $1 cash dividend per share to stockholders of record on February 15, payable March 1. 1 Mar. Paid the dividend declared in February. 1 Apr. Announced a 3-for-1 stock split. Prior to the split, the market price per share was $39. 1 July Declared a 6% stock dividend to stockholders of record on July 15, distributable July 31. On July 1, the market price of the stock was $10 per share. 1 31 Issued the shares for the stock dividend. Dec. Declared a $0.50 per share dividend to stockholders of record on December 15, payable January 5, 2021. 1 31 Determined that net income for the year was $323,000.
Transcribed Image Text:On January 1, 2020, Ivanhoe Corporation had the following stockholders' equity accounts. Common Stock (no par value, 94,000 shares issued and outstanding) $1,400,000 Retained Earnings 543,000 During the year, the following transactions occurred. Feb. Declared a $1 cash dividend per share to stockholders of record on February 15, payable March 1. 1 Mar. Paid the dividend declared in February. 1 Apr. Announced a 3-for-1 stock split. Prior to the split, the market price per share was $39. 1 July Declared a 6% stock dividend to stockholders of record on July 15, distributable July 31. On July 1, the market price of the stock was $10 per share. 1 31 Issued the shares for the stock dividend. Dec. Declared a $0.50 per share dividend to stockholders of record on December 15, payable January 5, 2021. 1 31 Determined that net income for the year was $323,000.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Balance Sheet Analysis
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
Excel Applications for Accounting Principles
Excel Applications for Accounting Principles
Accounting
ISBN:
9781111581565
Author:
Gaylord N. Smith
Publisher:
Cengage Learning
Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
College Accounting, Chapters 1-27 (New in Account…
College Accounting, Chapters 1-27 (New in Account…
Accounting
ISBN:
9781305666160
Author:
James A. Heintz, Robert W. Parry
Publisher:
Cengage Learning
Principles of Accounting Volume 1
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
SEE MORE TEXTBOOKS