Tiger Inc's shareholders' equity as at December 31, 20x2 is as follows: Preferred Shares, 5%, 100,000 shares issued and

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Tiger Inc S Shareholders Equity As At December 31 20x2 Is As Follows Preferred Shares 5 100 000 Shares Issued And 1 (42.62 KiB) Viewed 13 times

Tiger Inc's shareholders' equity as at December 31, 20x2 is as follows: Preferred Shares, 5%, 100,000 shares issued and outstanding, cumulative and fully participating Common Shares, 1,000,000 shares issued and outstanding Retained earnings Contributed Surplus - Common Share Repurchases Other Comprehensive Income - Revaluation Surplus The preferred dividends were last paid on December 31, 20x0. The following transactions occurred during the year ended December 31, 20x3: Apr 1, 20x3 Issued 100,000 common shares for total proceeds of $2,200,000 May 31, 20x3 Issued 60,000 common shares for total proceeds of $1,500,000 Jun 15, 20x3 Declared a 2:1 stock split Aug 1, 20x3 Repurchased and cancelled 50,000 common shares at total cost of $700,000 Dec 31, 20x3 Tiger uses the revaluation model for its land holdings. The year end carrying value of land was $3,400,000 and the fair value was $3,900,000. Net income for the year ending December 31, 20x3 was $5,400,000 Dividends of $3,500,000 were declared. 2 Required- Prepare the journal entries to record all of the above transactions. For the dividend declaration, split the dividend payable between the common and preferred shareholders. Use a minimum of 4 decimals when calculating book value per share. b. Prepare a Statement of Changes in Shareholders' Equity. $10,000,000 16,000,000 4,500,000 150,000 350,000