Question 4 of 4 -/25 View Policies Current Attempt in Progress Grant Construction Ltd. prepares its reports using IFRS. The following information relates to its shareholders equity on January 1, 2021, the first day of its fiscal year. $0.50-noncumulative preferred shares, unlimited number of shares authorized, 100,000 shares issued 1.200.000 Common shares, unlimited number of shares authorized, 1.200,000 shares issued Contributed surplus-reacquisition of common shares 3.720.200 14.200 Retained earnings Accumulated other comprehensive income 7.250,000 (449,000) During 2021, there were the following transactions related to shares. 1. 2 3 On May 15,2021. Grant purchased a Caterpillar bulldozer in exchange for 90,000 common shares with a market value of $ 3.15 per share. The fair value of the bulldozer was $295.400. On June 1.2021Grant's board of directors declared the semi-annual dividend to the preferred shareholders to shareholders of record on June 15, payable June 30. The semi-annual dividend to the preferred shareholders is paid on the appropriate date On September 16, 2021. reacquired 40,000 common shares for $139.250 cash. On December 15, 2021. Grant's board of directors declared the second semi-annual dividend to the preferred shareholders payable December 30.2021 and a 10% stock dividend to the common shareholders for shareholders of record on December 16, 2021, both payable January 20, 2022. The market price of the common shares at December 15, 2021 was $4.00 per share. Reported profit of $ 1450.000 for the year. 4 5 share amount of shares issued. (Round the average per share to 2 decimal places, eg, 5.27 and final answers to o decimal places, eg. 5,276.) Aver Pers Amo Date Transaction # Shares Proceeds Jan. 1 Beginning balance $ May 15 Issued Shares Sub total s Sep 16 Reacquisition $ Dec Stock dividend 15 Balance Dec 31 s eTextbook and Media List of Accounts Record any necessary journal entries for the transactions in 2021 more any closing entries. (Credit account sites are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts Record journal entries in the order presented in the problem. Round the average per share to 2 decimal places, es 527 and final answers to decimal places, es 5.276) Date Account Titles and Explanation Debit 2021 rea schedule showing all transactions for the common shares and the calculation of the average per amount of shares issued. (Round the average per share to 2 decimal places, eg 5.27 and final answers to al places, eg. 5,276.) Average Per Share Amount tion #Shares Proceeds ing shares total cquisition $ Send ince Dec e Textbook and Media List of Accounts Record any necessarvjournal entries for the transactions in 2021 ore any closing entries. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is require select "No Entry for the account titles and enter for the amounts Recordjoumal entries in the order presented in the problem. Round the average per share to 2 decimal places, es 5.27 and final answers to decimal places, 5.276) Date Account Titles and Explanation Debit 2021 Record any necessary journal entries for the transactions in 2021. Ignore any closing entries. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts. Record journal entries in the order presented in the problem. Round the average per share to 2 decimal places, eg 527 and final answers to decimal places, es. 5.276.) Date Account Titles and Explanation Debit 2021 Sepl 10 So record declaration of cash dividend (Tarecord declaration stock divided) 2022 contato (To record declaration of stock dividend) 2022 (To record payment of dividend) To record distribution of stock dividend e Textbook and Media List of Accounts Prepare the statement of changes in shareholders equity for the year ended December 31.-2021. (Round the average per share to 2 decimal places as 5.27 and final answers to decimal places es 5276) SEE Preferred Shares Common DA Distr Balanceanuary Hud tore teenpuired hare So wind Cdis Ebook and Media of Accounts are the statement of changes in shareholders equity for the year ended December 31, 2021. (Round th age per share to 2 decimal places, eg. 5.27 and final answers to decimal places, es 5,276) St. Preferred Shares Common Shares s Div Distr Balance January 1 issued foreciomem Reacquired shares Stock Dividend Chordlvidonds Comprehensive income Balance Docember 31 Textbook and Media List of Accounts Atolu Statement of Changes in Shareholders' Equity Year ended December 31, 2021 Stock Dividend Distributable Contributed Surplus- Reacquisition of Common Shares Retained Earnings Accumulated Other Comprehensive Income (Loss) In Shareholders' Equity cember 31, 2021 Contributed Surplus- Reacquisition of Common Shares Retained Earnings Accumulated Other Comprehensive Income (Loss) Total $ $ . Grant Construction Ltd prepares its reports using IFRS. The following information relates to its shareholders equilty on January 1 2021, the first day of its fiscal year 1.200,000 3.720.200 50.50-roncuialative preferred shares, unlimited number of shares authorized 100.000 shares issued Common shares, unlimited number of shares authorized. 1.200.000 thares issued Contributed surplus-reacquisition of common shares Retained canings Accumulated other comprehensive income 14200 7.250,000 1449.000 Durine 2021, there were the following transactions related to shares 2 On 15.2021. Grant purchase Caterpillar bulldozer in exchange for 90.000 convith market values 315 share. The value of the bulldozer w $295.400 One 1.2021. Gratis board of director declared these and dividend to the preferred to shareholders Gordon June 15. avable June 30 The did there shares the prime date OS 10.2001. mesto 5 On December 15,2021. Grant's board of directors declared the second semiannual dividend to the preferred shareholders payable December 30, 2021 and a 10% stock dividend to the common shareholders for shareholders of record on December 16, 2021. both payable January 20, 2022. The market price of the common shares at December 15, 2021 was $400 per share Reported profit of $ 1450,000 for the year Prepare a schedule showing all transactions for the common shares and the calculation of the average per share amount of shares nud (Round the average per share to 2 decimal places, 68 5.27 and final answers to decimal places. e. 5.276) Average Per Share Amount Proceeds Date Transaction Shares Beginning M 15 Issued shares Sub-tota Se Rection Sep 16 Reacquisition Dec 15 Stock dividend Balance Dec. 31 eTextbook and Media List of Accounts Record any necessary journal entries for the transactions in 2021. or any content Credit account the automatically Indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the title and enter the amounts Record journal entries in the order presented in the problem. Round the shorts 2 decimal places, 527 final answers to decimal place 5.276) Date Account Titles and Explanation Debit Credit 2021 > Sept. 16 ENG ser Sept. 16 (To record declaration of cash dividend) (To record declaration of stock dividend) 2022 2022 (To record payment of dividend To record distribution of stock dividend e Textbook and Media List of Accounts GRANT CONST Statement of Changesi Year ended Dec Preferred Shares Common Shares Stock Dividend Distributable Balance January 1 $ $ Issued forement Reacquired shares Stock Dividend Cash dividends Comprehensive income 5 Balance December 31 GRANT CONSTRUCTION LTD Statement of Changes in Shareholders' Equity Year ended December 31, 2021 Stock Contributed Surplus Dividend Reacquisition of Distributable Common Shares Retained Earnings Accumulated Other Comprehensive Income (Loss) $ TRUCTION LTD in Shareholders' Equity tember 31, 2021 Contributed Surplus- Reacquisition of Common Shares Retained Earnings Accumulated Other Comprehensive Income (Loss) Total $ O