Question
On January 1, 2015, Stronger Corporation, a publicly traded company, had these shareholders equity accounts: Common shares (Unlimited number of shares authorized, 100,000 issued) $500,000
On January 1, 2015, Stronger Corporation, a publicly traded company, had these shareholders equity accounts:
Common shares (Unlimited number of shares authorized, 100,000 issued) | $500,000 |
Contributed capital | $35,000 |
Retained earnings | $200,000 |
On Feb 1 the company declared a $2.00 per share cash dividend to common shareholders. The stocks market price was $20.00. February 15th is the date of record and March 1st is the date of payment. On February 15ththe stocks market price was $21.00 and on March 1st the stocks market price was $23.00.
Calculate the balance in number of common shares, dollars of common shares, dollars of contributed capital and dollars of retained earnings after the above transactions at March 1st, 2015.
| January 1, 2015 | March 1, 2015 |
Number of common shares | 100,000 |
|
Common shares | $500,000 | $ |
Contributed capital | $35,000 | $ |
Retained earnings | $200,000 | $
|
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