Question: Fisher Inc began operations on January 1 2014 During its
Fisher Inc. began operations on January 1, 2014. During its first year, $750,000 of common shares were issued and a net loss of $28,000 was realized. In 2015, Fisher’s second year of operations an additional $125,000 of common shares was issued, a net income of $148,000 was realized, and dividends of $40,000 were declared and paid. Prepare a statement of changes in equity for the year ended December 31, 2015.
Answer to relevant QuestionsOn February 1, Excel Corporation issued 37,500 common shares for $252,440 cash. On February 12, an additional 47,000 common shares were issued for cash of $7.25 per share. Present the entries to record these transactions and ...Explain each of the following terms included in the equity section of the partial balance sheet above:a. $0.50 cumulative b. Total contributed capital c. 20,000 shares authorized d. 150,000 shares issued and ...On March 1, the board of directors declared a cash dividend of $0.75 per common share to shareholders of record on March 10, payable March 31. There were 125,000 shares issued and outstanding on March 1 and no additional ...Match each of the numbered descriptions with the characteristic of preferred shares that it best describes. Indicate your answer by writing the letter for the correct characteristic in the blank space next to each ...The balance sheet for Umami Sustainable Seafood Inc. reported the following components of equity on December 31, 2014:Common shares, unlimited shares authorized,20,000 shares issued and outstanding ...
Post your question