Question
On January 1, 2017, Ven Corporation had the following stockholders equity accounts. Common Stock (no par value, 85,000 shares issued and outstanding) $1,350,000 Retained Earnings
On January 1, 2017, Ven Corporation had the following stockholders equity accounts.
Common Stock (no par value, 85,000 shares issued and outstanding) | $1,350,000 | |
Retained Earnings | 450,000 |
During the year, the following transactions occurred.
Feb. 1 | Declared a $1 cash dividend per share to stockholders of record on February 15, payable March 1. | |
Mar. 1 | Paid the dividend declared in February. | |
Apr. 1 | Announced a 3-for-1 stock split. Prior to the split, the market price per share was $35. | |
July 1 | Declared a 4% stock dividend to stockholders of record on July 15, distributable July 31. On July 1, the market price of the stock was $10 per share. | |
31 | Issued the shares for the stock dividend. | |
Dec. 1 | Declared a $0.30 per share dividend to stockholders of record on December 15, payable January 5, 2018. | |
31 | Determined that net income for the year was $300,000. |
(Enter account name only and do not provide descriptive information. Round answers to 0 decimal places, e.g. 5,250.) (a) Prepare the stockholders equity section of the balance sheet at March 31.
(b) Prepare the stockholders equity section of the balance sheet at June 30.
(c) Prepare the stockholders equity section of the balance sheet at September 30.
(d) Prepare the stockholders equity section of the balance sheet at December 31, 2017.
list of accounts:
VEN CORPORATION Partial Balance Sheet
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started