Question 1 Bentley tatoos Ltd showed the following equity section of the balance sheet as at november 20 2020

Bentley tatoos Ltd

Equity section of balance sheet

november 20 2020

Contributed capital:

Common shares,100000 shares authorised;

28000 shares issued and outstanding $476000

Retained earnings $85000

total Equity $561000

On january 5 2019 bentley declared and distributed a 3:1 share split .Show the equity section of the balance sheet immediately after the share split.

Question 2 the equity section of the december 31,2018 Balance sheet for bilgate smoothie emporium inc showed the following

bilgate smoothies . in

Equity section of the balance sheet

December 31 2018

contributed capital:

Preffered shares ;$0.40 cumulative ;80000 shares authorised

60000 shares issued and outstanding $240000

Common shares 250000 shares authorised

120000 shares issued and outstanding 192000

Total contributed capital --$432000-------------

Retained earnings 148000

Total equity $580000

During 2020 the company had the following transaction Affecting equity accounts

Feb 6 issued 15000 common shares at $1.75per share

May 22 Issued 12500 preffered shares at $3.20 per share

Aug 5 In addition to the declaration of the annual dividend on the preffered share ,the directors declared $0.20 per common share Cash dividend payable on sep 28 to the September 5 Shareholders of record

Sept 28 Paid the dividend declared on august 5

December 31 closed the $289650 credit balance in the income summary account

REQUIRED

1 PREPARE THE JOURNAL ENTRIES TO RECORD THE TRANSACTION AND CLOSING FOR 2019

2 PREPARE A STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED DECEMBER 31, 2019

QUESTION 3 SONA INC HAD 400000 COMMON SHARES ISSUED AND OUTSTANDING ON DECEMBER 31 2018 ON JUNE 1 2019 THE BOARD OF DIRECTORS DECLARED A 15% SHARE DIVIDENDS TO SHARE HOLDERS OF RECORD ON JUNE 15 THE DISTRIBUTION WAS JULY 1 THE MARKET PRICE OF THE SHARES ON JUNE 1 ,JUNE15 AND JULY 1 WERE $2.08,$1.76AND $1.96 RESPECTIVELY .PREPARE THE JOURNAL ENTRIES FOR SONA IN TO RECORD THE DECLARATION AND ISSUANCE OF THE SHARE DIVIDEND .