please answer all three parts of this question if possible or else just answer first 2 parts. some information is filled by me so plz refill that as well. upvote for sure
Question 1 of 4 -/25 E Current Attempum Progress On December 31, 2020, Ivanhoe Corporation had the following shareholders' equity accounts: IVANHOE CORPORATION Balance Sheet (partial) December 31, 2020 Shareholders' equity Common shares (unlimited number of shares authorized, 87.000 issued) $1,193,000 530,000 Retained earnings Total shareholders'equity $1.723,000 During the year, the following transactions occurred: Jan. 15 July 1 Declared a $1 per share cash dividend to shareholders of record on January 31, payable February 15. Announced a 2-for-1 stock split. The market price per share on the date of the announcement was $12. Declared a 10% stock dividend to shareholders of record on December 30, distributable on January 15. On December 15, the market price of each share was $6; on December 30, 67, and on January 15, $6. Determined that profit before income tax for the year was $466,000. The company has a 25% income tax rate, Dec 15 31 40C SI o te Gi 2 Question 1 of 4 -/25 E Part 1 Journalize the transactions and closing entries for 2021. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts. Record Journal entries in the order presented in the problem.) ite Account Titles and Explanation Debit 15 Cash Dividends Common Cash Dividends - Preferred (To record declaration of cash dividend.) 15 - 15 Cash Dividends - Common Cash (To record payment of dividend.) mily1 Memo: 2 for 1 stock split increases the number of shares to O was/ui/v2/assessment player/index.html?launchid=041be5e6-9034-45-124-820774005e5#/question/ Question 1 of 4 - 125 E 1 Cash (To record payment of dividend.) July 1 Memo:2.for-1 stock split increases the number of shares to 15 Stock Dividends Cash Dividends-Common (To record declaration of stock dividend) Income Summary 31 31 Income Tax Payable Retained Earning (To close Income Summary.) ac Sunny NWP Assessment Upx + w/2/assessment-player/indexhtml?launchild 011be56 9014 Ace 2482077400SW/question 5 Question 1 of 4 -/25 E Part 2 Enter the beginning balances from the December 31, 2020, partial balance sheet. Post the entries in part (a) to the shareholders' equity accounts. (Note: Open additional shareholders' equity accounts as needed.) Common Shares Date Explanation Ref. Debit Credit Balance Jan. 1 Balance Stock Dividends Distributable Debit Credit Date Explanation Ref. Balance Dec. 15 J1 Cash Dividends-Common Debit Credit Date Explanation Ref. Balance Jan. 15 J1 Dec 31 Closing entry J1 Stock Dividende Question 1 of 4 -/25 Cash Dividends-Common Date Explanation Ref. Debit Credit Balance Jan. 15 J1 Dec 31 Closing entry J1 Stock Dividends Date Debit Balance Explanation Ref. Credit Dec. 15 J1 Dec. 31 Closing entry J1 Retained Earnings Credit Date Debit Balance Explanation Ref. Jan. 1 Balance Dec 31 Closing entry J1 Dec 31 Closing entry J1 Question 1 of 4 -/25 Part 3 Prepare the shareholders' equity section of the balance sheet at December 31, 2021. IVANHOE CORPORATION Partial Balance Sheet I 40C o G Question 1 of 4 -/25 E Current Attempum Progress On December 31, 2020, Ivanhoe Corporation had the following shareholders' equity accounts: IVANHOE CORPORATION Balance Sheet (partial) December 31, 2020 Shareholders' equity Common shares (unlimited number of shares authorized, 87.000 issued) $1,193,000 530,000 Retained earnings Total shareholders'equity $1.723,000 During the year, the following transactions occurred: Jan. 15 July 1 Declared a $1 per share cash dividend to shareholders of record on January 31, payable February 15. Announced a 2-for-1 stock split. The market price per share on the date of the announcement was $12. Declared a 10% stock dividend to shareholders of record on December 30, distributable on January 15. On December 15, the market price of each share was $6; on December 30, 67, and on January 15, $6. Determined that profit before income tax for the year was $466,000. The company has a 25% income tax rate, Dec 15 31 40C SI o te Gi 2 Question 1 of 4 -/25 E Part 1 Journalize the transactions and closing entries for 2021. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts. Record Journal entries in the order presented in the problem.) ite Account Titles and Explanation Debit 15 Cash Dividends Common Cash Dividends - Preferred (To record declaration of cash dividend.) 15 - 15 Cash Dividends - Common Cash (To record payment of dividend.) mily1 Memo: 2 for 1 stock split increases the number of shares to O was/ui/v2/assessment player/index.html?launchid=041be5e6-9034-45-124-820774005e5#/question/ Question 1 of 4 - 125 E 1 Cash (To record payment of dividend.) July 1 Memo:2.for-1 stock split increases the number of shares to 15 Stock Dividends Cash Dividends-Common (To record declaration of stock dividend) Income Summary 31 31 Income Tax Payable Retained Earning (To close Income Summary.) ac Sunny NWP Assessment Upx + w/2/assessment-player/indexhtml?launchild 011be56 9014 Ace 2482077400SW/question 5 Question 1 of 4 -/25 E Part 2 Enter the beginning balances from the December 31, 2020, partial balance sheet. Post the entries in part (a) to the shareholders' equity accounts. (Note: Open additional shareholders' equity accounts as needed.) Common Shares Date Explanation Ref. Debit Credit Balance Jan. 1 Balance Stock Dividends Distributable Debit Credit Date Explanation Ref. Balance Dec. 15 J1 Cash Dividends-Common Debit Credit Date Explanation Ref. Balance Jan. 15 J1 Dec 31 Closing entry J1 Stock Dividende Question 1 of 4 -/25 Cash Dividends-Common Date Explanation Ref. Debit Credit Balance Jan. 15 J1 Dec 31 Closing entry J1 Stock Dividends Date Debit Balance Explanation Ref. Credit Dec. 15 J1 Dec. 31 Closing entry J1 Retained Earnings Credit Date Debit Balance Explanation Ref. Jan. 1 Balance Dec 31 Closing entry J1 Dec 31 Closing entry J1 Question 1 of 4 -/25 Part 3 Prepare the shareholders' equity section of the balance sheet at December 31, 2021. IVANHOE CORPORATION Partial Balance Sheet I 40C o G
