Question
Grouper Corporation's charter authorized 1 million shares of $12 par value common shares, and 200,000 shares of 5% cumulative and non-participating preferred shares, with a
Grouper Corporation's charter authorized 1 million shares of $12 par value common shares, and 200,000 shares of 5% cumulative and non-participating preferred shares, with a par value of $100 per share. The corporation made the following share transactions through December 31, 2017: 260,000 common shares were issued for $3.64 million and 9,000 preferred shares were issued for machinery valued at $1,388,000. Subscriptions for 10,500 common shares have been taken, and 25% of the subscription price of $16 per share has been collected. The shares will be issued upon collection of the subscription price in full. In addition, 9,000 common shares have been repurchased for $15 and retired. The Retained Earnings balance is $150,000 before considering the transactions above.
Prepare the shareholders' equity section of the statement of financial position in good form.
Grouper Corporation
Partial Statement of Financial Position
For the Year Ended December 31, 2017
As of December 31, 2017
For the Month Ended December 31, 2017
Total Share Capital
Total Paid-in Capital and Retained Earnings
Share Capital
Total Common Shares issued and to be issued
Total Paid-in Capital
Total Shareholders' Equity
Shareholders' Equity
Total Paid-in Capital
Total Common Shares issued and to be issued
Total Shareholders' Equity
Total Paid-in Capital and Retained Earnings
Total Share Capital
Share Capital
Shareholders' Equity
$
$
Total Shareholders' Equity
Total Share Capital
Total Common Shares issued and to be issued
Total Paid-in Capital
Shareholders' Equity
Total Paid-in Capital and Retained Earnings
Share Capital
Total Share Capital
Total Shareholders' Equity
Total Paid-in Capital and Retained Earnings
Total Common Shares issued and to be issued
Total Paid-in Capital
Share Capital
Shareholders' Equity
Total Shareholders' Equity
Share Capital
Total Common Shares issued and to be issued
Total Paid-in Capital
Shareholders' Equity
Total Share Capital
Total Paid-in Capital and Retained Earnings
Total Shareholders' Equity
Total Common Shares issued and to be issued
Share Capital
Total Paid-in Capital
Shareholders' Equity
Total Paid-in Capital and Retained Earnings
Total Share Capital
Less
Add
:
Total Paid-in Capital
Total Common Shares issued and to be issued
Total Share Capital
Total Shareholders' Equity
Total Paid-in Capital and Retained Earnings
Share Capital
Shareholders' Equity
$
SHOW LIST OF ACCOUNTS
LINK TO TEXT
LINK TO TEXT
LINK TO TEXT
LINK TO VIDEO
Prepare the shareholders' equity section of the statement of financial position in good form. Assume that the common shares and preferred shares are no par.
Grouper Corporation
Partial Statement of Financial Position
For the Year Ended December 31, 2017
For the Month Ended December 31, 2017
As of December 31, 2017
Share Capital
Shareholders' Equity
Total Paid-in Capital
Total Common Shares issued and to be issued
Total Share Capital
Total Shareholders' Equity
Total Paid-in Capital and Retained Earnings
Share Capital
Total Paid-in Capital and Retained Earnings
Total Share Capital
Shareholders' Equity
Total Common Shares issued and to be issued
Total Paid-in Capital
Total Shareholders' Equity
$
$
Shareholders' Equity
Total Common Shares issued and to be issued
Total Paid-in Capital
Total Shareholders' Equity
Total Share Capital
Total Paid-in Capital and Retained Earnings
Share Capital
Shareholders' Equity
Share Capital
Total Common Shares issued and to be issued
Total Paid-in Capital
Total Share Capital
Total Shareholders' Equity
Total Paid-in Capital and Retained Earnings
Shareholders' Equity
Total Paid-in Capital
Total Shareholders' Equity
Total Common Shares issued and to be issued
Share Capital
Total Share Capital
Total Paid-in Capital and Retained Earnings
Add
Less
:
Total Shareholders' Equity
Total Paid-in Capital and Retained Earnings
Share Capital
Shareholders' Equity
Total Common Shares issued and to be issued
Total Paid-in Capital
Total Share Capital
$
SHOW LIST OF ACCOUNTS
LINK TO TEXT
LINK TO TEXT
LINK TO TEXT
LINK TO VIDEO
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Financial Accounting
Authors: Jeffrey Waybright, Robert Kemp
1st Edition
013606048X, 9780136060482
