Question
On March 1, 2023, VisionTech Inc.s board of directors declared a 15% share dividend when the market price per share was $9.00. On November 15,
On March 1, 2023, VisionTech Inc.s board of directors declared a 15% share dividend when the market price per share was $9.00. On November 15, 2023, the board of directors declared a 4:1 share split. The equity section of the companys December 31, 2022, balance sheet showed:
| Common shares; 20,000,000 shares authorized; 4,200,000 shares issued and outstanding | $ | 26,250,000 | |
| Retained earnings | 3,470,000 | ||
Required: 1. Prepare a statement of changes in equity for the year ended December 31, 2023, assuming profit earned during the year was $4,980,000. (Amounts to be deducted should be indicated by a minus sign.)
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Government and Not for Profit Accounting Concepts and Practices
Authors: Michael Granof, Saleha Khumawala, Thad Calabrese, Daniel Smith
7th edition
1118983270, 978-1119175025, 111917502X, 978-1119175001, 978-1118983270
