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Please answer PART B i.e partial balance sheet shareholder equity section. All other images are added for reference and information (a) Your Answer Correct Answer
Please answer PART B i.e partial balance sheet shareholder equity section. All other images are added for reference and information
(a) Your Answer Correct Answer Your answer is correct Prepare the statement of changes in shareholders' equity for the year ended December 31, 2021. (Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses e.g. (45).) WILDHORSE SUPPLY CORPORATION Statement of Changes in Shareholders' Equity Year ended December 31, 2021 Common Shares Contributed Surplus- Reacquisition of Common Shares Retained Earnings $ 708000 $ 17500 $ 212000 Balance, January 1 Issued shares for cash Reacquired common shares 38500 -34507 9400 Cash dividends -24500 26500 Comprehensive income Balance, December 31 $ $ 711993 $ 26900 $ 214000 H (a) Your Answer Correct Answer Your answer is correct Prepare the statement of changes in shareholders' equity for the year ended December 31, 2021. (Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses eg: (45).) WILDHORSE SUPPLY CORPORATION Statement of Changes in Shareholders' Equity Year ended December 31, 2021 Contributed Surplus- Reacquisition of Common Shares Retained Earnings Accumulated Other Comprehensive Income (Loss) Total 17500 $ 212000 $ 60000 $ 997500 38500 9400 -25107 -24500 -24500 26500 20000 46500 26900 214000 $ 80000 $ 1032893 b) Prepare the shareholders' equity section of the balance sheet at December 31, 2021. WILDHORSE SUPPLY CORPORATION Partial Balance Sheet December 31, 2021 > > $ > > $ Save for Later Attempts: 0 of 1 used Submit Answer Auction Date or Wildhorse Supply Corporation provided the following schedule detailing the changes in the shareholders' equity accounts during 2020 and 2021. 2021 2020 Number of Shares Number of Shares Amount Amount 590,000 $708,000 590,000 $708,000 38,500 0 59,000 (30,000) (34,507) 0 619,000 711,993 590,000 708,000 17.500 17.500 9,400 0 26,900 17,500 Common shares, unlimited authorized Balance, January 1 Issued shares for cash Reacquired shares Balance, December 31 Contributed surplus-reacquisition of common shares Balance, January 1 Reacquired common shares Balance, December 31 Retained earnings Balance, January 1 Profit (loss) Common dividends-Cash Balance, December 31 Accumulated other comprehensive income Balance, January 1 Other comprehensive income (loss) Balance, December 31 Shareholders' equity, December 31 212,000 224,000 26.500 23,500 (24.500) (35,500) 212,000 214.000 60.000 20,000 64,000 (4.000) 80,000 60,000 $1,032,893 $997,500 (a)Step by Step Solution
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