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urgent pls answer b Monty Construction Ltd. prepares its reports using IFRS. The following information relates to its shareholders' equity on January 1. 2023 ,
urgent pls answer b
Monty Construction Ltd. prepares its reports using IFRS. The following information relates to its shareholders' equity on January 1. 2023 , the first day of its fiscal year. During the year, there were the following transactions related to shares. 1. On May 15, 2023, Monty purchased equipment in exchange for 95,000 common shares with am market value of $3.35 per share. The fair value of the equipment was $312,000. 2. On June 1, 2023, Monty's board of directors declared the semi annual dividend to the prefeered shareholders of record on June 15 , payable June 30. 3. The semi-annual dividend to the preferred shareholders is pald on the appropriate date. 4. On September 16,2023, reacquired 47,500 common shares for $162,000cash. On December 15.2023, Monty's board of directors declared the second semp-annual dividend to the preferred shareholders and a 10% stock dividend to the common shareholders for shareholders of record on December 31 . 2023 payable January 20, 2024. The market price of the common shares at December 15, 2023 was $4 per share. 6. Reported comprehensive income of $1,500,000 for the year, consisting of $1,500.000 of profit and $0 other comprehensive income. a) Prepare a schedule showing all transactions for common shares ond the calculation of the average per share ampunt. (Round average cost to 2 decimal places, eg. $5275 ) Prepare a schedule showing all transactions for common shares and the calculation of the average per share amount. (Round average cost to 2 decimal places, eg. $52.75. Journalize each of the transactions. (Ust all deblt entries before credit entries, Credit occount tities are outomaticolly indented when the amount is entered. Do not indent manuaily. If no entry is requlred, select "No Entry" for the account titles and enter Of for the amounts. Record entries in the order displayed in the problem statement.) Question 4 of 4 0.77/3 (To record declaration of cash dividend) (To record declaration of stock dividend) Question 4 of 4 0.77/3 (To record declaration of steck dividend) (To record payment of dividend) (Ta record distribution ot stock dividend) Step by Step Solution
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