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On January 1, 2022. Ivanhoe Corporation had the following stockholders equity accounts: Common Stock ($ 24 par value, 61,000 shares issued and outstanding) $1,464,000 Paid-in
On January 1, 2022. Ivanhoe Corporation had the following stockholders equity accounts: Common Stock ($ 24 par value, 61,000 shares issued and outstanding) $1,464,000 Paid-in Capital in Excess of Par-Common Stock 191.000 Retained Earrings 619,000 During the year, the following transactions occurred Feb. 1 Mar 1 Apr, 1 July 1 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, 2023 31 Dec 1 31 Determined that net income for the year was $365,500 Common Stock Date Explanation Ref Debit Credit Balance Balance Common Stock Dividends Distributable Dale Explanation Ref Debit Credit Balance Paid in Capital in Excess of Par-Common Stock Date Explanation Ref Debit Credit Balance Balance Retained Earnings Date Explanation Ref Debit Credit Balance Balance Net income Retained Earnings Date Balance Explanation Ref Debit Credit Balance V Net income Stock dividend Cash dividend Cash Dividends Explanation Ref Date Debit Credit Balance Stock Dividends Date Debit Credit Explanation Rel Balance
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