Rainchief Energy Inc. Equity Section of the Balance Sheet October 31, 2023 Contributed capital: Required 1. Calculate

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Rainchief Energy Inc. Equity Section of the Balance Sheet October 31, 2023 Contributed capital:


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Required1. Calculate A assuming an average issue price of $12 per share.2. Calculate B assuming an average issue price of $60 per share.3. Calculate C assuming the average issue price was $3.00 per share.4. Calculate D.5. Calculate E assuming that Rainchief Energy Inc. showed profit/losses for the years ended October 31, 2020, 2021, 2022, and 2023, of $1,500,000, $1,050,000, $780,000, and $(1,320,000) respectively. Dividends totalling $720,000 were declared and paid during the year ended October 31, 2020.  No other dividends have been declared to date.6. Calculate F.7. Calculate any dividends in arrears as at October 31, 2023 (all of the shares were issued early in 2020).

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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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