Information taken from Jamestown Corp.s balance sheet as of April 1, 2023, follows: Common shares, 375,000 shares
Question:
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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Related Book For
Fundamental Accounting Principles Volume 2
ISBN: 9781260881332
17th Canadian Edition
Authors: Kermit D. Larson, Heidi Dieckmann, John Harris
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