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Problem 13-3A Share dividends, share splits, retirements, equity section of balance sheet LO1, 2 AIM Inc. showed the following equity account balances on the
Problem 13-3A Share dividends, share splits, retirements, equity section of balance sheet LO1, 2 AIM Inc. showed the following equity account balances on the December 31, 2019, balance sheet Common shares, unlimited authorized shares, 746,400 shares issued and outstanding Retained earnings During 2020, the following selected transactions occurred: $6,269,760 2,321,700 Feb.10 Repurchased and retired 143,700 common shares at $10.00 per share; this is the first retirement recorded by ADH May 15 Declared a 213 share split to shareholders of record on June 1, distributable June 15, Dec. 1 Declared a 10% share dividend to shareholders of record on December 10, distributable December 20, The sarket prices of the shares on December 1, December 10, and December 20 were $6.00 $6,90, and 36.40, respectively. 20 Distributed the share dividend declared December 1. 31 Closed the credit balance of $955,662 in the Income Summary account, Required: a. Journalize the transactions above (assuming the retirements were the first ever recorded by AIM Inc.). The company does not use a share dividends account. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field) View transaction list Journal entry worksheet 2 3 Bharned the retiremand of shares 5 >
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