At December 31, 2012, Mendonca Mall, Inc., reported stockholders equity as follows: During 2013, Mendonca Mall completed
Question:
During 2013, Mendonca Mall completed these transactions (listed in chronological order):
a. Declared and issued a 9% stock dividend on the outstanding stock. At the time, Mendonca Mall stock was quoted at a market price of $22 per share.
b. Issued 2,300 shares of common stock at the price of $15 per share.
c. Net income for the year, $350,000.
d. Declared cash dividends of $182,000.
Requirement
1. Prepare Mendonca Mall, Inc.s statement of stockholders equity for2013.
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...
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Related Book For
Financial accounting
ISBN: 978-0132751124
9th edition
Authors: Walter T. Harrison Jr., Charles T. Horngren, C. William Thom
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