On March 1, 2023, VisionTech Inc.'s board of directors declared a 15% share dividend when the...

 

Transcribed Image Text:

On March 1, 2023, VisionTech Inc.'s board of directors declared a 15% share dividend when the market price per share was $8.00. On November 15, 2023, the board of directors declared a 4:1 share split. The equity section of the company's December 31, 2022, balance sheet showed: Common shares; 20,000,000 shares authorized; 4,250,000 shares issued and outstanding Retained earnings $28,575,000 3,235,000 Required: 1. Prepare a statement of changes in equity for the year ended December 31, 2023, assuming profit earned during the year was $7,922,500. (Amounts to be deducted should be indicated by a minus sign.) On March 1, 2023, VisionTech Inc.'s board of directors declared a 15% share dividend when the market price per share was $8.00. On November 15, 2023, the board of directors declared a 4:1 share split. The equity section of the company's December 31, 2022, balance sheet showed: Common shares; 20,000,000 shares authorized; 4,250,000 shares issued and outstanding Retained earnings $28,575,000 3,235,000 Required: 1. Prepare a statement of changes in equity for the year ended December 31, 2023, assuming profit earned during the year was $7,922,500. (Amounts to be deducted should be indicated by a minus sign.)

Answer rating: 100% (QA)

VisionTech Inc Statement of Changes in Equity For the Year Ended December 31 2023 ComponentDescripti... View the full answer