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How do I figure out the contributed capital for this question? Can that be explained a bit in depth please and thank you Exercise 13-7
How do I figure out the contributed capital for this question? Can that be explained a bit in depth please and thank you
Exercise 13-7 Share split, retirement of shares L01.2 CHECK FIGURE: 2. Retained eamings. Dec. 31. 2017 = $2.168.000 The Data Group Inc. had the following balances in its egy c t December 31, 2017 200.000 shar e d and outstanding During 2017, the following equity transactions occurred: Apr. May Nov. 15 1 1 Repurchased and retired 15,000 common shares at $10.40 per share. Repurchased and retired 25,000 common shares at $13.60 per share. The board of directors declared a 2:1 share split effective on this date. Required 1. Prepare journal entries to account for the transactions during 2017 (assuming the retirements were the first ever recorded by The Data Group Inc.). 2. Prepare the company's equity section on the December 31, 2017, balance sheet, assuming a loss for pan the year of $136,000. Analysis Component: What does a share repurchase and retirement accomplish for Data Group Inc.? Exercise 13-8 Share dividends, share splits, retirements, equity section of balance sheet 101,2 CHECK FIGURE: Equity, Dec. 31, 2017 = $7.264,000 Mady Entertainment Inc. showed the following equity account balances on the December 31, 2016, bal- ance sheetStep by Step Solution
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