Question
On February 16, April 13, June 2, and again on June 16, the board of directors declared $0.40 per share cash dividends on the outstanding
On February 16, April 13, June 2, and again on June 16, the board of directors declared $0.40 per share cash dividends on the outstanding common shares. On May 3, 40,000 additional common shares were issued. Under the assumption that there were no transactions affecting retained earnings other than the ones just described, determine the 2015 net income (net loss) of Northstar Corp..
Your solution was:
Indicate whether Northstar Corp. had a net gain or loss in 2015.
Nortstar corp 2014
common share ,unlimited share 360,000
120000 shares issued and outstandin
Retained earnings 240,000
Total Equity 600,000
Nortstar corp 2015
common share ,unlimited share 480000
160000 shares issued and outstandin
Retained earnings 254000
Total Equity 734,000
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
