Peninsula Supply Corporation provided the following schedule detailing the changes in the shareholders equity accounts during 2023
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Peninsula Supply Corporation provided the following schedule detailing the changes in the shareholders’ equity accounts during 2023 and 2024. Determine the missing amounts.
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Common shares, unlimited authorized Balance, January 1 Issued shares for cash Reacquired shares Balance, December 31 Contributed surplus-reacquisition of common shares Balance, January 1 Reacquired common shares Balance, December 31 Retained earnings Balance, January 1 Profit (loss) for the year Common dividends-Cash Balance, December 31 Accumulated other comprehensive income Balance, January 1 Other comprehensive income (loss) for the year Balance, December 31 Shareholders' equity, December 31 2024 Number of Shares Amount 500,000 50,000 (25,000) (a) $ (b) 32,500 603,750 15,000 8,000 (d) 179,500 22,500 (e) 181,000 51,000 (f) 68,000 $ 2023 Number of Shares Amount 500,000 500,000 $600,000 0 0 600,000 15,000 0 15,000 190,000 (h) (30,000) 179,500 (i) (3,000) 51,000 (j)
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a 525000 500000 beg balance 50000 shares issued 25000 shares reacquired b 6000...View the full answer
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Related Book For
Accounting Principles Volume 2
ISBN: 9781119786634
9th Canadian Edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
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