The following shareholders' equity accounts are reported by Crane Inc. on January 1:

Common shares (unlimited authorized, 169,500 issued)		$2,712,000
Preferred shares ($4 cumulative, convertible, 100,000 authorized, 6,300 issued)		472,500
Contributed surplusreacquisition of common shares		32,600
Retained earnings		1,273,000

The following selected transactions occurred during the year:

Feb.		11		Issued 56,500 common shares at $20 per share.
Mar.		2		Reacquired 20,800 common shares at $22 per share.
June		14		Split the common shares 2 for 1 when the common shares were trading at $30 per share.
July		25		Reacquired 510 preferred shares at $70 per share.
Sept.		16		Reacquired 56,500 common shares for $17 per share.
Oct.		27		Declared a 5% common stock dividend distributable on December 13 to shareholders of record on November 24. The fair value of the common shares on October 27 was $19 per share.
Dec.		13		Distributed the stock dividend declared on October 27. The fair value of the common shares on December 13 was $21 per share.

Prepare journal entries for the transactions. (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 0 for the amounts. Record journal entries in the order presented in the problem. Round average per share to 2 decimal places, e.g. 15.25 and final answers to 0 decimal places, e.g. 5,276.)

Date	Account Titles and Explanation	Debit	Credit
Feb. 11Mar. 2July 25Sept. 16Oct. 27Dec. 13
	(Issued common shares for cash.)
Mar. 2
	(To record reacquisition of common shares.)
Feb. 11Mar. 2July 25Sept. 16Oct. 27Dec. 13
	(To record reacquisition of preferred shares.)
Sept. 16
	(To record reacquisition of common shares.)
Feb. 11Mar. 2July 25Sept. 16Oct. 27Dec. 13
	(To record declaration of stock dividend.)
Feb. 11Mar. 2July 25Sept. 16Oct. 27Dec. 13
	(To record distribution of stock dividend.)

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Question Part Score

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Show how each class of shares will be presented in the shareholders equity section of the balance sheet at December 31.

Crane Inc. Partial Balance Sheet For the Month Ended December 31For the Year Ended December 31December 31
Shareholders equity
Contributed SurplusReacquired SharesShare CapitalOwner's DrawingsAccumulated Other Comprehensive IncomeTotal Share Capital
					$

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