Question
Crane Supply Corporation provided the following schedule detailing the changes in the shareholders equity accounts during 2020 and 2021. 2021 2020 Number of Shares Amount
Crane Supply Corporation provided the following schedule detailing the changes in the shareholders equity accounts during 2020 and 2021.
2021 | 2020 | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Number of Shares | Amount | Number of Shares | Amount | ||||||||
Common shares, unlimited authorized | |||||||||||
Balance, January 1 | 380,000 | $456,000 | 380,000 | $456,000 | |||||||
Issued shares for cash | 38,000 | 24,500 | 0 | ||||||||
Reacquired shares | (19,000 | ) | (21,841 | ) | 0 | ||||||
Balance, December 31 | 399,000 | 458,659 | 380,000 | 456,000 | |||||||
Contributed surplusreacquisition of common shares | |||||||||||
Balance, January 1 | 11,500 | 11,500 | |||||||||
Reacquired common shares | 6,100 | 0 | |||||||||
Balance, December 31 | 17,600 | 11,500 | |||||||||
Retained earnings | |||||||||||
Balance, January 1 | 136,500 | 144,000 | |||||||||
Profit (loss) | 17,000 | 15,500 | |||||||||
Common dividendsCash | (15,500 | ) | (23,000 | ) | |||||||
Balance, December 31 | 138,000 | 136,500 | |||||||||
Accumulated other comprehensive income | |||||||||||
Balance, January 1 | 39,000 | 41,000 | |||||||||
Other comprehensive income (loss) | 13,000 | (2,000 | ) | ||||||||
Balance, December 31 | 52,000 | 39,000 | |||||||||
Shareholders equity, December 31 | $666,259 | $643,000 |
CRANE SUPPLY CORPORATION Statement of Changes in Shareholders Equity choose the accounting period Year ended December 31, 2021Month ended December 31, 2021December 31, 2021 | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|
Common Shares | Contributed Surplus Reacquisition of Common Shares | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | Total | ||||||
Balance, January 1 | $enter a dollar amount | $enter a dollar amount | $enter a dollar amount | $enter a dollar amount | $enter a dollar amount | |||||
Issued shares for cash | enter a dollar amount | enter a dollar amount | enter a dollar amount | enter a dollar amount | enter a dollar amount | |||||
Reacquired common shares | enter a dollar amount | enter a dollar amount | enter a dollar amount | enter a dollar amount | enter a dollar amount | |||||
Cash dividends | enter a dollar amount | enter a dollar amount | enter a dollar amount | enter a dollar amount | enter a dollar amount | |||||
Comprehensive income | enter a dollar amount | enter a dollar amount | enter a dollar amount | enter a dollar amount | enter a dollar amount | |||||
Balance, December 31 | $enter a total amount | $enter a total amount | $enter a total amount | $enter a total amount | $enter a total amount |
Prepare the shareholders' equity section of the balance sheet at December 31, 2021.
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