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Journal enrty of each one please show calculation process On January 1, 2015, Blue Corporation reported $3,000,000 in its Common Shares account (200,000 issued, 400,000
Journal enrty of each one
please show calculation process
On January 1, 2015, Blue Corporation reported $3,000,000 in its Common Shares account (200,000 issued, 400,000 authorized) and retained earnings of $1,000,000. During 2015, the following events occurred: On July 1, the company issued 100,000 common shares at $17 per share. On December 15, the board of directors declared a 15% stock dividend to common shareholders of record on December 31, payable on January 15, 2016. The market value of Blue Corporation common shares was $16 per share on December 15 and $14 per share on December 31. Profit for 2015 was $625,000Step by Step Solution
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