40 m Wed 10 mm x CShot in op Satone Clan 1-10 ML boardcdn.com/5e8cd0dd12cc5/23672407X-Blackboard-Expiration=1615518000000&X-Blackb. # 5 76 100% + CCT 103D - W2021 Short Answer Total Marks/42 xam #2 - Part 2 (Short Answer) Multiple Choice Total Marks/25 Question 4 Dangerous Pursuits Ltd.'s shareholders' equity section at December 31, 2019 appears below: Shareholders' equity Common shares, no par value, 70,000 shares issued and outstanding $715,000 Retained earnings 200.000 Total shareholders' equity $915.000 On April 8, 2020, the board of directors of Dangerous Pursuits Ltd declared a 20% stock dividend, payable on May 15, 2020, to shareholders of record on May 1, 2020. The fair market value of Dangerous Pursuits Ltd's shares on April 8, 2020 was $14 per share. On September 1, 2020, the board of directors declared a 3-for-1 stock split effective September 15, 2020. Dangerous Pursuits Ltd.'s shares were selling for $12 on September 1, 2020, before the stock split was declared. Net Income for 2020 was $170,000 and there were no cash dividends declared, Required: a) Prepare the journal entries (no explanations required) on the appropriate dates to record the stock dividend and the stock split. If no journal entry is required, indicate so on the appropriate date (7 Marks) w Home-portal 10 W0X Chronix Clinto .com/5e3cd0dd12cc5/23672407X-Blackboard-Expiration16155180000008.X-Blackb.... 100% + 5/6 b) Fill in the amount that would appear in the shareholders' equity section for Dangerous Pursuits Ltd. at December 31, 2020, for each of the following items (8 Marks). 1. Common Shares I Number of shares outstanding 2. 3. Retained Earnings s 4. Total shareholders' equity SIP Short Answer Total Marks/42 Multiple Choice Total Marks/25 ACCT 1030 W2021 Exam #2 - Part 2 (Short Answer) e Home - portal.com 40 m Wed 10 mm x CShot in op Satone Clan 1-10 ML boardcdn.com/5e8cd0dd12cc5/23672407X-Blackboard-Expiration=1615518000000&X-Blackb. # 5 76 100% + CCT 103D - W2021 Short Answer Total Marks/42 xam #2 - Part 2 (Short Answer) Multiple Choice Total Marks/25 Question 4 Dangerous Pursuits Ltd.'s shareholders' equity section at December 31, 2019 appears below: Shareholders' equity Common shares, no par value, 70,000 shares issued and outstanding $715,000 Retained earnings 200.000 Total shareholders' equity $915.000 On April 8, 2020, the board of directors of Dangerous Pursuits Ltd declared a 20% stock dividend, payable on May 15, 2020, to shareholders of record on May 1, 2020. The fair market value of Dangerous Pursuits Ltd's shares on April 8, 2020 was $14 per share. On September 1, 2020, the board of directors declared a 3-for-1 stock split effective September 15, 2020. Dangerous Pursuits Ltd.'s shares were selling for $12 on September 1, 2020, before the stock split was declared. Net Income for 2020 was $170,000 and there were no cash dividends declared, Required: a) Prepare the journal entries (no explanations required) on the appropriate dates to record the stock dividend and the stock split. If no journal entry is required, indicate so on the appropriate date (7 Marks) w Home-portal 10 W0X Chronix Clinto .com/5e3cd0dd12cc5/23672407X-Blackboard-Expiration16155180000008.X-Blackb.... 100% + 5/6 b) Fill in the amount that would appear in the shareholders' equity section for Dangerous Pursuits Ltd. at December 31, 2020, for each of the following items (8 Marks). 1. Common Shares I Number of shares outstanding 2. 3. Retained Earnings s 4. Total shareholders' equity SIP Short Answer Total Marks/42 Multiple Choice Total Marks/25 ACCT 1030 W2021 Exam #2 - Part 2 (Short Answer) e Home - portal.com
