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Pharoah Supply Corporation provided the following schedule detailing the changes in the shareholders equity accounts during 2023 and 2024 1-Prepare the shareholders equity section of
Pharoah Supply Corporation provided the following schedule detailing the changes in the shareholders equity accounts during 2023 and 2024
1-Prepare the shareholders equity section of the balance sheet at December 31,2024
2- Prepare the statement of changes in shareholders' equity for the year ended December 31,2024
Common shares, unlimited authorized Balance, January 1 Issued shares for cash Contributed surplus-reacquisition of common shares Balance, January 1 \begin{tabular}{rr} 15,000 & 15,000 \\ 8,000 & 0 \\ \hline 23,000 & 15,000 \\ \hline \end{tabular} Retained earnings Balance, January 1 \begin{tabular}{rr} 179,500 & 190,000 \\ 22,500 & 19,500 \\ (21,000) \\ \hline 181,000 & (30,000) \\ \hline \end{tabular} Accumulated other comprehensive income Balance, January 1 \begin{tabular}{rr} 51,000 & 54,000 \\ 17,000 & (3,000) \\ \hline 68,000 & 51,000 \\ \hline$875,750 & $845,500 \\ \hline \hline \end{tabular} 6 Your answer is partially correct. Prepare the statement of changes in shareholders' equity for the year ended December 31, 2024. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) - Your answer is partially correctStep by Step Solution
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