Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Crane Supply Corporation provides the following schedule dealing the changes in the shareholders' acuity accounts during 2020 and 2021 2021 2020 Number of Shares Number

image text in transcribedimage text in transcribedimage text in transcribed

Crane Supply Corporation provides the following schedule dealing the changes in the shareholders' acuity accounts during 2020 and 2021 2021 2020 Number of Shares Number of Shares Amount Amount Common shares, unlimited authorized Balance, January 1 490,000 S 568,000 490,000 S 598,000 Issuec shares for cash 49,000 32.000 0 Reacuired shares ( 25,000 (28,757 0 Balance December 31 514.000 591,243 490,000 598,000 Contributed surplus-reacquisition of common shares Balance, January 1 Reacquired common shares 14,500 14.500 7,800 Balance December 31 22.300 14,500 Retained earnings Balance, January 1 176,000 186,000 Profit loss 22,000 19,500 Common dividends-Cash (21.000 (29,500) Balance, December 31 177,000 176,000 Accumulated other comprehensive income Balance, January 1 50,000 53,000 Other comprehensive income foss) 17,000 3,000 Balance, December 31 67,000 50,000 Shareholders' equity, December 31 $ 957,543 $928,500 CRANE SUPPLY CORPORATION Statement of Changes in Shareholders' Equity Common Shares Contributed Surplus- Reacquisition of Common Shares Retained Earnings wa $ Balance, January 1 Issued shares for cash Reacquired common shares Cash dividends Comprehensive income Balance, December 31 $ $ CRANE SUPPLY CORPORATION Statement of Changes in Shareholders' Equity Contributed Surplus- Reacquisition of Common Shares Retained Earnings Accumulated Other Comprehensive Income (Loss) Total $ $ $ $ S $ $

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

Intermediate Accounting

Authors: Donald E. Kieso, Jerry J. Weygandt, And Terry D. Warfield

13th Edition

9780470374948, 470423684, 470374942, 978-0470423684

More Books

Students also viewed these Accounting questions

Question

WHAT IS HRM?

Answered: 1 week ago

Question

(a+2)=81 then a=?

Answered: 1 week ago

Question

GENERAL MANAGEMENT IN BUSINESS?

Answered: 1 week ago