Question: PLEASE PROVIDE ONLY THE RED BOXED NUMBERES IN PART B - THE ACCOUNT NAMES EXCEPT FOR 2 ARE CORRECT. Ivanhoe Corporation's charter authorized 1 million

 PLEASE PROVIDE ONLY THE RED BOXED NUMBERES IN PART B -

PLEASE PROVIDE ONLY THE RED BOXED NUMBERES IN PART B - THE ACCOUNT NAMES EXCEPT FOR 2 ARE CORRECT. Ivanhoe Corporation's charter authorized 1 million $13 par value common shares, and 400,0005% cumulative and non-participating
preferred shares, with a par value of $100 per share. The corporation made the following share transactions through December 31.
2023: 270,000 common shares were issued for $4.05 million and 12,000 preferred shares were issued for machinery valued at
$1,664,000. Subscriptions for 11,400 common shares have been taken, and 30% of the subscription price of $18 per share has been
collected. The shares will be issued when the subscription price is collected in full. In addition, 12,000 common shares have been
repurchased for $17 and retired. The Retained Earmings balance is $250,000 before considering the transactions above.
Prepare the shareholders' equity section of the SFP in good form.
IVANHOE CORPORATION
Partial Statement of Financial Position
December 31,2023
Shareholders' Equity
Share Capltal
Preferred Shares
$
Common Shares
Common Shares Subscrlbed
Total Common Shares Issued and to be Issued
Contrlbuted Surplus
Total Pald-In Capltal
Retalned Earnings
Total Pald-In Capital and Retained Earnings
Share Subscrlptlons Recelvable
Total Shareholders' Equlty Your answer is partially correct.
Prepare the shareholders' equity section of the SFP in good form. Assume that the common shares and preferred shar
par.
IVANHOECORPORATION
Partial Statement of Financial Position
December 31,2023
Total Shareholders' Equlty
Share Capltal
Preferred Shares
Common Shares
Common Shares Subscribed
Total Common Shares Issued and to be Issued
Contrlbuted Surplus
Total Pald-In Capltal and Retalned Earnings
Share Subscriptlons Recelvable
THE ACCOUNT NAMES EXCEPT FOR 2 ARE CORRECT. Ivanhoe Corporation's charter authorized

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!