Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Ques 1: Record the transaction in general journal Que 2: prepare a statement a shareholders equity at dec 31 2020 Ques 3: Eps at dec

image text in transcribed

image text in transcribed

Ques 1: Record the transaction in general journal Que 2: prepare a statement a shareholders equity at dec 31 2020 Ques 3: Eps at dec 31 2020

Apr. Jun. Jul. Nov. 29 Declared a 10 percent stock dividend on the common shares. The market value of the Classico Vision Ltd.'s common shares was $19.00 per share. The record date was May 20, with distribution set for June 3. 3 Issued the stock dividend shares. 29 Repurchased 9,500 of the company's own common shares at $15.00 per share; average issue price was $16.85. 1 Sold 1,800 common shares for $16.20 per share. 25 Declared a $0.45 per share dividend on the common shares outstanding. The date of record was December 16, and the payment date was January 6, 2021. 31 Closed the $120,000 credit balance of Income Summary to Retained Earnings. Dec. Common shares, 280,000 shares authorized, 59,000 shares issued and outstanding $ 1,050,000 260,000 Retained earnings Total shareholders' equity $ 1,310,000

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

Step: 3

blur-text-image

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

Farmers Irs Audit Techniques Guide

Authors: Internal Revenue Service

1st Edition

1304134237, 978-1304134233

More Books

Students also viewed these Accounting questions

Question

What is Ohm's law and also tell about Snell's law?

Answered: 1 week ago

Question

List the different categories of international employees. page 642

Answered: 1 week ago

Question

Explain the legal environments impact on labor relations. page 590

Answered: 1 week ago