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Comparative statements of shareholders equity for Anaconda International Corporation were reported as follows for the fiscal years ending December 3 1 , 2 0 2
Comparative statements of shareholders equity for Anaconda International Corporation were reported as follows for the fiscal years ending December and ANACONDA INTERNATIONAL CORPORATION Statements of Shareholders' Equity For the Years Ended Dec. and $ in millions Preferred Stock $ par Common Stock $ par Additional PaidIn Capital Retained Earnings Total Shareholders' Equity Balance at January Sale of preferred shares Sale of common shares Cash dividend, preferred Cash dividend, common Net income Balance at December Retirement of shares Cash dividend, preferred Cash dividend, common for split effected in the form of a dividend Net income Balance at December Common stock dividend Cash dividend, preferred Cash dividend, common Net income Balance at December Required: Infer from the statements the events and transactions that affected Anaconda International Corporations shareholders equity during and Prepare the journal entries that reflect those events and transactions. Hint: In lieu of revenues and expenses, use an account titled "Income summary" to close net income or net loss. Prepare the shareholders equity section of Anacondas comparative balance sheets at December and
Comparative statements of shareholders equity for Anaconda International Corporation were reported as follows for the fiscal years ending December and
ANACONDA INTERNATIONAL CORPORATION
Statements of Shareholders' Equity
For the Years Ended Dec. and
$ in millions
Preferred Stock
$ par Common Stock
$ par Additional
PaidIn Capital Retained Earnings Total
Shareholders' Equity
Balance at January
Sale of preferred shares
Sale of common shares
Cash dividend, preferred
Cash dividend, common
Net income
Balance at December
Retirement of shares
Cash dividend, preferred
Cash dividend, common
for split effected in the
form of a dividend
Net income
Balance at December
Common stock dividend
Cash dividend, preferred
Cash dividend, common
Net income
Balance at December
Required:
Infer from the statements the events and transactions that affected Anaconda International Corporations shareholders equity during and Prepare the journal entries that reflect those events and transactions. Hint: In lieu of revenues and expenses, use an account titled "Income summary" to close net income or net loss.
Prepare the shareholders equity section of Anacondas comparative balance sheets at December and
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