Datacom Services Inc: reported the following statement of changes in shareholders equity for the year ended October
Question:
Datacom Services Inc: reported the following statement of changes in shareholders equity for the year ended October 31,2020
{Requirements}
Answer these questions about Datacom Services's shareholders' equity transactions:
1. If Datacom's income tax rate is \(33 \%\), much income before income tax did Datacom report on the income statement?
2. What is the stated value of a common share at October 31, 2020?
3. At what price per share did Datacom Services issue its common shares during the year?
4. Datacom Services's statement lists the share transactions in the order they occurred. What was the percentage of the stock dividend?
Step by Step Answer:
Financial Accounting
ISBN: 9780135433065
7th Canadian Edition
Authors: Walter Harrison, Wendy Tietz, C. Thomas, Greg Berberich, Catherine Seguin