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On January 1, 2020, Ivanhoe Corporation had the following stockholders' equity accounts. $1,464,000 Common Stock ($24 par value, 61,000 shares issued and outstanding) Paid-in Capital
On January 1, 2020, Ivanhoe Corporation had the following stockholders' equity accounts. $1,464,000 Common Stock ($24 par value, 61,000 shares issued and outstanding) Paid-in Capital in Excess of Par-Common Stock Retained Earnings 191,000 619,000 During the year, the following transactions occurred. Feb. 1 Mar. 1 Apr. 1 July 1 31 Declared a $1 cash dividend per share to stockholders of record on February 15, payable March 1. Paid the dividend declared in February. Announced a 2-for-1 stock split. Prior to the split, the market price per share was $40. Declared a 15% stock dividend to stockholders of record on July 15, distributable July 31. On July 1, the market price of the stock was $14 per share. Issued the shares for the stock dividend. Declared a $0.40 per share dividend to stockholders of record on December 15, payable January 5, 2021. Determined that net income for the year was $365,500. Dec. 1 31 Date Account Titles and Explanation Debit Credit $ Click if you would like to Show Work for this question: Open Show Work
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