36 On March 1, 2023, VisionTech Inc.'s board of directors declared a 15% share dividend when...
Fantastic news! We've Found the answer you've been seeking!
Question:
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/05/6657dfdf24c02_9756657dfdf1f2a2.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/05/6657dfdf685b6_9756657dfdf6411d.jpg)
Transcribed Image Text:
36 On March 1, 2023, VisionTech Inc.'s board of directors declared a 15% share dividend when the market price per share wes $15.00. On November 15, 2023, the board of directors declared a 4:1 share split. The equity section of the company's December 31, 2022, balance sheet showed: Common shares; 20,000,000 shares authorized; 4,300,000 shares issued and outstanding Retained earnings $28,750,000 5,570,000 Required: 1. Prepare a statement of changes in equity for the year ended December 31, 2023, assuming profit earned during the year was $5,980,000. (Amounts to be deducted should be indicated by a minus sign.) Balance, January 1 VISIONTECH INC. Statement of Changes in Equity For Year Ended December 31, 2023 Common Shares Retained Earnings $ 28,750,000 $ 5,570,000 Total Equity Share dividends Profit Balance, December 31 Nout 36 On March 1, 2023, VisionTech Inc.'s board of directors declared a 15% share dividend when the market price per share wes $15.00. On November 15, 2023, the board of directors declared a 4:1 share split. The equity section of the company's December 31, 2022, balance sheet showed: Common shares; 20,000,000 shares authorized; 4,300,000 shares issued and outstanding Retained earnings $28,750,000 5,570,000 Required: 1. Prepare a statement of changes in equity for the year ended December 31, 2023, assuming profit earned during the year was $5,980,000. (Amounts to be deducted should be indicated by a minus sign.) Balance, January 1 VISIONTECH INC. Statement of Changes in Equity For Year Ended December 31, 2023 Common Shares Retained Earnings $ 28,750,000 $ 5,570,000 Total Equity Share dividends Profit Balance, December 31 Nout
Expert Answer:
Posted Date:
Students also viewed these accounting questions
-
Consider the test statistic for the sign test in Exercise 15-10. Find the P-value for this statistic. Compare it to the P-value for the normal approximation test statistic computed in Exercise 15-11.
-
Today, a U.S. dollar can be exchanged for 3 New Zealand dollars. The 1-year CD (deposit) rate in New Zealand is 7 percent, and the 1-year CD rate in the United States is 6 percent. Interest rate...
-
Swenson Township issued $5,000,000 of 10-year, 6% bonds on July 1, 20X8. Bond issue costs of $93,000 were incurred. The bonds were issued to finance a courthouse expansion. Required Record the bond...
-
Melinda invests $210,000 in a City of Heflin bond that pays 4.5 percent interest. Alternatively, Melinda could have invested the $210,000 in a bond recently issued by Surething Inc. that pays 6...
-
The extract of statement of financial position for the yearended 30 June 2023 for Persian Ltd and Sumo Ltd are as follows:On 01 July 2022, Persian Ltd acquired 551,250 ordinary shares ofSumo Ltd, t 1...
-
Assume a block cipher which operates on 4-bit blocks written as hexadecimal digits. For a particular key K it implements the following "encryption" on message m: m 0 1 2 3 4 5 5 C 7 e 6 7 8 9 a 2 a 4...
-
Cherry Inc. has forecast its sales for the coming months as follows: Standard Units Economy Units April 2 3 6 1 8 6 May 2 6 6 1 9 6 June 3 0 6 2 1 6 July 3 3 6 2 3 6 Cherry maintains finished goods...
-
Aqua Accessories plc . is a subsidiary company of River Recreation plc , and manufactures three products Sun Parasols, Deck Chairs, Buckets and Spades. The selling price, variable and fixed costs per...
-
On January 1, 2018, Canseco Plumbing Fixtures purchased equipment for $40,000. Residual value at the end of an estimated four-year service life is expected to be $4,000. The company expects the...
-
On April 1 of the current year, TJ's uncle gave her land that he had purchased several years ago for $30,000. The land was worth $20,000 at the time of the gift. TJ sold the land on December 1 of the...
-
Catherine created a budget based on her gross income of $56,000, but her net income ended up being $49,900. Catherine's rent was going to be 35% of her gr income. Determine what percentage of her net...
-
A future payment is reported as a liability on the balance sheet if payment is contingent on a future event that (a) is reasonably possible but the payment cannot be reasonably estimated; (b) is...
-
Under what circumstances is a future payment reported in the notes to the financial statements as a contingent liability?
-
Estimated liabilities involve an obligation to pay which of these? (a) An uncertain but reasonably estimated amount owed on a known obligation or (b) A known amount to a specific entity on an...
![Mobile App Logo](https://dsd5zvtm8ll6.cloudfront.net/includes/images/mobile/finalLogo.png)
Study smarter with the SolutionInn App