Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

could someone explain this plz Question 30 (1 point) The following is the shareholders' equity information on the balance sheet of the Everslim Company at

image text in transcribedcould someone explain this plz

Question 30 (1 point) The following is the shareholders' equity information on the balance sheet of the Everslim Company at the beginning of the year of 2019. Common shares (100,000 shares authorized, 30,000 shares issued) are $550,000. Retained earnings are $267,000. At the end of the year of 2019, the common shares are currently selling for $11.50 per share. On July 1, 2019, the company issued new common shares that were worth $50,550. The company declared the $50,000 cash dividend on December 30, 2019, with the scheduled payment on January 15, 2020. The company also declared the $20,000 stock dividend on December 31, 2019, with the scheduled issuance of the shares on January 31, 2020. What is the total amount of the shareholder's equity that must be reported on the balance sheet at the end of the year of 2019? For your answer, make sure to put the number without dollar signs ($), commas (,), periods (.), and decimal points. Again, please state the number only without dollar signs, commas, periods, and decimal points for your answer. For example, if the answer happens to be 12345, then you must simply put 12345

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamental Financial Accounting Concepts Paperback By Edmonds Thomas P O

Authors: Thomas P. Edmonds, Christopher Edmonds, Mark A. Edmonds, Jennifer Edmonds, Philip R. Olds

11th Edition

9781264266234, 1264266235

More Books

Students also viewed these Accounting questions

Question

3. Evaluate your listeners and tailor your speech to them

Answered: 1 week ago