Question: can you help ? please Exercise 15-7 Share split, retirement of shares LO1, 2 CHECK FIGURE: 2. Retained earnings, Dec. 31, 2020 = $2,168,000 The

can you help ? please can you help ? please Exercise 15-7 Share split, retirement of shares

Exercise 15-7 Share split, retirement of shares LO1, 2 CHECK FIGURE: 2. Retained earnings, Dec. 31, 2020 = $2,168,000 The Data Group Inc. had the following balances in its equity accounts at December 31, 2019: Common shares, untirted shares authorized; 200,000 sharesd and outstanding......... Retained earningso d $2,400,000 400,000 botribe During 2020, the following equity transactions occurred: Apr. May Nov. 15 1 1 Repurchased and retired 15,000 common shares at $10.40 per share. Repurchased and retired 25,000 common shares at $13.60 per share. The board of directors declared a 2:1 share split effective on this date. Required 1. Prepare journal entries to account for the transactions during 2020 (assuming the retirements were the first ever recorded by The Data Group Inc.). 2. Prepare the company's equity section on the December 31, 2020, balance sheet, assuming a loss for the year of $136,000. Analysis Component: What does a share repurchase and retirement accomplish for The Data Group Inc

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

a. Use the CAPM to compute the required rate of return on common equity capital for Starbucks. b. Using your projected financial statements from Case 10.1 for Starbucks, begin with projected net cash...

How do I figure out the contributed capital for this question? Can that be explained a bit in depth please and thank you Exercise 13-7 Share split, retirement of shares L01.2 CHECK FIGURE: 2....

Please solve 2 and 3rd part Except for the earnings per share statistics, the 2019, 2020, and 2021 income statements for Ace Group Inc. were originally presented as follows: Required: 1. Calculate...

Hello Finstat. I have really appreciated your help so far. Can you help with the attached? From what I can tell and what the instructor has told us is that this is less involved than the previous...

Please see the attached instructions forwhat is required for this question For this assignment, you will complete the Financial Overview component of Amazon. To complete this assignment, use the...

Can someone help me with this? I need it by tomorrow chapter 2 Issues in Accounting for Corporate Debt and Equity istockphoto Learning Objectives Be able to articulate the advantages and...

Listen to the following videos and then complete the assignments using the changed numbers on the guidance report. Place your answers on the guidance report. Open the Guidance Report and rework the...

JETRO CORPORATION Unadjusted Trial Balance As Of December 31, 2019 DEBIT CREDIT P 380,000.00 2,000,000.00 1,260,000.00 239,200.00 150,000.00 140,000.00 2,490,000.00 357,000.00 440,000.00 920,000.00...

Compare and evaluate Tesla and General Motors based on their financial statements. The financial statements of 2020 are available in Canvas. Use tables, charts or graphs to present numbers/ratios and...

Instructions: ONLY DO PROFITABILITY RATIOS - Nothing else. No need to worry about the graphs either. Just need the ratios worked out. Equations to use: CHOOSE 3 OUT OF 5 TO SOLVE FIRST COMPANY:...

This report created from the financial statements of The Amazon.com, Inc. Company Running Head: FINANCIAL ANALYSIS 1 Financial Analysis Students Name Executive summary FINANCIAL ANALYSIS 2 This...

Write the equations for the 95% confidence limits, and solve them numerically if you have a computer. 14 mutations are counted in one million base pairs.

1. For the following, derive the weak form and identify the different boundary conditions, viz., Dirichlet, Neumann and Robin boundary conditions. For each of the equations given below, identify the...

For Judge Oh to be comfortable with natural law as a legal philosophy, which of the following would need to be true? multiple choice Judge Oh would have to see our proper role as obedience to the...

Hot air for a large-scale drying operation is to be produced by routing the air over a tube bank (unmixed), while products of combustion are routed through the tubes. The surface area of the...

(a) What is the smallest amount of energy in electron volts that must be given to a hydrogen atom initially in its ground level so that it can emit the If" line in the Ballmer series? (b) How many...

Figure shows a reversible cycle through which 1.00 mol of a monatomic ideal gas is taken. Volume Vc = 8.00%. Process bc is an adiabatic expansion, with pb = 10.0 atm and Vb = 1.00 x 10-3 m3. For the...

It was reported in World War I that a pilot flying at an altitude of 2km caught in his bare hands a bullet fired at the plane? Using the fact that a bullet slows down considerably due to air...

A 12.5- resistor is made from a coil of copper wire whose total mass is 18.0g. What is the diameter of the wire, and how long is it?

As the project progresses, the actual finish times ( AFs ) of completed activities will determine Group of answer choices the latest start and latest finish times for the remaining activities in the...

=+8. Determine what the brand's positioning is. Do you want consumers to say it's safe, cool, fun, reliable, etc.? (WHAT IS THE BRAND KNOWN FOR?)

=+7. What is the big message you want them to know?

=+c. Geographics Explores where (location and kind of setting: urban, suburban, rural) audience lives.