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Q: Please state the amount AIM Inc. showed the following equity account balances on the December 31, 2019, balance sheet: During 2020 , the following
Q: Please state the amount
AIM Inc. showed the following equity account balances on the December 31, 2019, balance sheet: During 2020 , the following selected transactions occurred: Feb.10 Repurchased and retired 157,900 common shares at $10.00 per share; this is the first retirement recorded by AIM. May 15 Declared a 2:1 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 market prices of the shares on December 1 , December 10 , and December 20 were $6.00$6.60, and $6.60, respectively. 20 Distributed the share dividend declared December 1. 31 Closed the credit balance of $946,200 in the Income summary account. Answer is not completeStep by Step Solution
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