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On January 1, 2024, Dolar Incorporated had the following account balances in its shareholders' equity accounts. During 2024, Dolar Incorporated had several transactions relating to
On January 1, 2024, Dolar Incorporated had the following account balances in its shareholders' equity accounts. During 2024, Dolar Incorporated had several transactions relating to common stock. January 15: Declared a property dividend of 100,000 shares of Burak Company (book value $11.3 per share, fair value $9.65 per share). February 17: Distributed the property dividend. April 10: A 2-for-1 stock split was declared and distributed on outstanding common stock and effected in the form of a stock dividend. (Dolar chose to reduce Paid-in capital-excess of par.) The fair value of the stock was $4 on this date. July 18: Declared and distributed a 4% stock dividend on outstanding common stock. The fair value is $5 per share. December 1: Declared a 50 cents per share cash dividend on the outstanding common shares. December 20: Paid the cash dividend. Required: Without preparing journal entries, prepare the shareholders' equity section of Dolar's balance sheet as of December 31, 2024. Assume net Income is $470,000 for 2024 . Note: Negatlve amounts should be entered with a minus slgn
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