The following accounts appear in the ledger of Kennel Inc. after the books are closed on December
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Question:
The following accounts appear in the ledger of Kennel Inc. after the books are closed on December 31, 2021:
Accumulated other comprehensive income | $51,410 | ||
Common shares (unlimited number of shares authorized, 265,000 shares issued) | 795,000 | ||
Stock dividends distributable | 95,400 | ||
Contributed surplus | 64,660 | ||
Preferred shares ($1.4 noncumulative, 106,000 shares authorized, 10,600 shares issued) | 265,000 | ||
Retained earnings (of which $530,400 is restricted for a plant expansion) | 1,420,400 |
Prepare the shareholders’ equity section of Kennel’s statement of financial position, including any required note disclosure.
Related Book For
Accounting Tools for Business Decision Making
ISBN: 978-1118128169
5th edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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