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Caronport Carpentry Shop Ltd . can issue 9 0 , 0 0 0 $ 5 cumulative preferred shares. The company's letters patent authorizes up to
Caronport Carpentry Shop Ltd can issue $ cumulative preferred shares. The company's letters patent authorizes up to common shares, and the corporation has common shares outstanding with a book value of $ Presently, no preferred shares are issued. The opening retained earnings equals $ tableJantableCaronport Carpentry Shop Ltd Issued common shares in exchange for land worth$ marksFebtableThe board of directors delcared a share dividend market value $ share toshareholders of record on Mar. market value $ share to be distributed on Mar. market value $ share marksMarIssued the share dividend. markAprSold and issued $ cumulative preferred shares for cash at $ per share. marksMaytableThe Board declared total cash dividends of $ to shareholders of record on May payable on Jun. marksJunPaid the cash dividend. marksAugThe board decided to split the common shares to effective the same day. markDectableCaronport Carpentry Shop Ltd Earned a net income of $ for the year. Close out theincome summary account and any other temporary equity accounts. marks REQUIRED: Record the journal entries needed to document the transactions from above. Prepare a statement of changes in equity for the year ended December marks Prepare the equity seciton as it would be presented in the balance sheet as at December marks
Caronport Carpentry Shop Ltd can issue $ cumulative preferred shares. The company's letters patent authorizes up to common shares, and the corporation has common shares outstanding with a book value of $ Presently, no preferred shares are issued. The opening retained earnings equals $
tableJantableCaronport Carpentry Shop Ltd Issued common shares in exchange for land worth$ marksFebtableThe board of directors delcared a share dividend market value $ share toshareholders of record on Mar. market value $ share to be distributed on Mar. market value $ share marksMarIssued the share dividend. markAprSold and issued $ cumulative preferred shares for cash at $ per share. marksMaytableThe Board declared total cash dividends of $ to shareholders of record on May payable on Jun. marksJunPaid the cash dividend. marksAugThe board decided to split the common shares to effective the same day. markDectableCaronport Carpentry Shop Ltd Earned a net income of $ for the year. Close out theincome summary account and any other temporary equity accounts. marks
REQUIRED:
Record the journal entries needed to document the transactions from above.
Prepare a statement of changes in equity for the year ended December marks
Prepare the equity seciton as it would be presented in the balance sheet as at December marks
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