On January 1, 2022, Ven Corporation had the following stockholders' equity accounts. Instructions Prepare the stockholders' equity
Question:
On January 1, 2022, Ven Corporation had the following stockholders' equity accounts.
Instructions
Prepare the stockholders' equity section of the balance sheet at
(a) March 31,
(b) June 30,
(c) September 30,
(d) December 31, 2022.
Transcribed Image Text:
Common Stock (no par value, 90,000 shares issued and outstanding) Retained Earnings During the year, the following transactions occurred. Feb. 1 Declared a $1 cash dividend per share to stockholders of record on February 15, payable March 1. $1,600,000 500,000 Mar. 1 Paid the dividend declared in February. Apr. 1 Announced a 3-for-1 stock split. Prior to the split, the market price per share was $36. July 1 Declared a 5% stock dividend to stockholders of record on July 15, distributable July 31. On July 1, the market price of the stock was $16 per share. Issued the shares for the stock dividend. Declared a $0.50 per share dividend to stockholders of record on December 15, payable January 5, 2023. Determined that net income for the year was $350,000. 31 Dec. 1 31
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Related Book For
Accounting Principles
ISBN: 9781119707110
14th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Jill E. Mitchell
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