- Current Attempt In Progress On January 1 2021 Canarie Corporation A Publicly Traded Company Had The Following Shareh 1 (72.57 KiB) Viewed 117 times
Current Attempt in Progress On January 1, 2021, Canarie Corporation, a publicly traded company, had the following shareholders' equity accounts: Common shares (unlimited number of shares authorized, 44,000 shares issued) $1,760,000 Retained earnings 1,136,000 Accumulated other comprehensive income 54,400 During the year, the following transactions occurred: Jan. 15 Declared a $1.25 per share cash dividend to shareholders of record on January 31, payable February 15. Apr. 16 Declared a 10% stock dividend to shareholders of record on April 30, distributable May 15. On April 16, April 30, and May 15, the share prices were $12, $11.80, and $11.90, respectively. Oct. 1 Effected a 2-for-1 stock split. On October 1, the share price was $15. Dec. 31 Determined that net income for the year was $502,400.
Record the above transactions, including any required entries to close dividends and net income. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually and If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts.) Transaction entries: