Information taken from Jamestown Corp.s balance sheet as of April 1, 2023, follows: Common shares, 375,000 shares

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Information taken from Jamestown Corp.’s balance sheet as of April 1, 2023, follows:

Common shares, 375,000 shares authorized,

150,000 shares issued and outstanding ..................................    $1,102,500

Retained earnings .......................................................................         633,000


On April 1, Jamestown declares and distributes a 10% share dividend. The market value of the shares on this date is $25. Prepare the equity section for Jamestown immediately following the share dividend (assume all dividends are debited directly to Retained Earnings).

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Fundamental Accounting Principles Volume 2

ISBN: 9781260881332

17th Canadian Edition

Authors: Kermit D. Larson, Heidi Dieckmann, John Harris

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