The shareholders' equity accounts for Erle Enterprises Inc. at the beginning of the year were as follows: Preferred shares (10,000 issued) Common shares (900,000 issued) Contributed surplus Retained earnings Accumulated other comprehensive income $300,000 900,000 10,000 400,000 25,000. During the year the following transactions/events took place: 1. A 2-for-1 preferred stock split; market price was $30 2. Declared a 10%

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Accounting Principles Volume 2

8th Canadian Edition

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak

ISBN: 978-1119502555