Question

On January 1, 2012, Copeland Ltd. (a public company) had the following shareholders’ equity accounts:
Preferred shares, $5-non-cumulative, no par value,.. unlimited
number authorized, none issued ............. –0–
Common shares, no par value, unlimited number authorized,
800,000 issued ..................... $5,600,000
Retained earnings ................... 1,323,000
Accumulated other comprehensive income ........ 142,000
Instructions
(a). Prepare journal entries to record the transactions above.
(b). Post the entries to the shareholders’ equity T accounts.
(c). Prepare the Statement of Shareholders’ Equity for the year.
(d). Prepare the shareholders’ equity section of the balance sheet at December 31.
(e). Prepare the financing activities section of the cash flow statement for the year.


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  • CreatedAugust 23, 2015
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