5. The following selected amounts are available for Canada Company. Retained earnings (beginning) HK$1,600 Net loss Cash dividends declared Share dividends declared What is its ending retained earnings balance? HK$1,300 b. HK$1,400 C. HK$900 d. HK$1,200 300 200 200 6. Canada, Inc. had 500,000 ordinary shares outstanding before a share split occurred, and 1,500,000 shares outstanding after the share split. The share split was a. 2-for-5. b. 5-for-1. c. 1-for-5. 3-for-1. 8. 7. Canada Company purchased a building on January 2 by signing a long-term 630,000 mortgage with monthly payments of 5,400. The mortgage carries an interest rate of 10 percent. The entry to record the first monthly payment will include a a. debit to the Cash account for 5,400. b. credit to the Cash account for 5,250. c. debit to the Interest Expense account for 5,250. d. credit to the Mortgage Payable account for 5,400. The adjusted trial balance for Canada Corp. at the end of the current year, 2020, containe the following accounts. 5-year Bonds Payable 8% 1,650,000 Interest Payable 50,000 Notes Payable (3 mo.) 40,000 Notes Payable (5 yr.) 145,000 Mortgage Payable (10,000 due currently) 300,000 Salaries and Wages Payable 18,000 Taxes Payable (due 3/15 of 2021) 25,000