Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please prepare a statement of shareholders equity in excel L018-6 through 2018-8 TY 2 Listed below are the transactions that affected the shareholders equity of

please prepare a statement of shareholders equity in excel
image text in transcribed
L018-6 through 2018-8 TY 2 Listed below are the transactions that affected the shareholders equity of Branch Rickie Corporation during the period 2021-2023. A December 31, 2020. the corporation's accounts included: (Sin thousands Common stock, 105 million shares at Sipar $ 105,000 Paid in capital-excess of par 610,000 Retained earnings 970.000 November 1, 2021, the board of directors declared a cash dividend of 50.80 per share on its common shares payable to shareholders of weed November 15, to be paid December b. On March 1, 2022, the board of directors declared a property dividend consisting of corporate bondsor Warner Corporation that Beach Rickie was holding as an investment. The bonds had a fair value of $16 million, but were purchased two years previously for $1.3 million Because they were intended to be held to maturity, the bonds had not been previously written up. The property dividend was payable to shareholders of record March 13, to be distributed April c. On July 12, 2022, the corporation declared and distributed a 5% common stock dividend (when the market value of the common stock $21 per share). Cash was paid in lieu of fractional shares representing 250.000 equivalent whole shares d. On November 1, 2022, the board of directors declared a cash dividend of $0.50 per share on its common shares, peable shareholders of record November 15, to be paid December e On January 15, 2023, the board of directors declared and distributed a 3-for 3 stock split effected in the form of a sos stock divided when the market value of the common stock was $22 per share. 1. On November 1, 2023, the board of director declared a cash dividend of 50.65 per share on its comme sures, peable to shareholders of record November 15, to be paid December 1, Required: 1. Prepare the journal entries that Branch Rickie recorded during the three year period for these transactions 2. Prepare comparative statements of shareholders equity for Branch Rickie for the three year period (5 in... Net income was $3.30 m $395 million, and $455 million for 2021, 2020, and 2023, respectively

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Money Laundering Prevention Deterring Detecting And Resolving Financial Fraud

Authors: Jonathan E. Turner

1st Edition

0470874759, 978-0470874752

More Books

Students also viewed these Accounting questions

Question

Identify the cause of a performance problem. page 363

Answered: 1 week ago