70.2K

Verified Solution

Link Copied!

he accounts of Horrigan Corporation reported the following shareholders' equity account balances on December 31,2021 : e shareholders equity accounts Jan 1 Declared a 10% share dividend, distributable on Jan 15 to shareholders of record on Jan 6 Market value of Jan 15 Distributed the 10% share dividend. July 6 Issued 20,000 preferred shares at $50 per share. Dec 15 The directors declared a total cash dividend of $250.000 payable on Jan 5.2023 to the Dec 20 shareholde Dec 31 Reported a net loss of $185,000 and closed the income Summary and Dividends account (if required) red: sent all required journal entries for 2022 many common shares were issued and outstanding at December 31.2022? he accounts of Horrigan Corporation reported the following shareholders' equity account balances on December 31,2021 : e shareholders equity accounts Jan 1 Declared a 10% share dividend, distributable on Jan 15 to shareholders of record on Jan 6 Market value of Jan 15 Distributed the 10% share dividend. July 6 Issued 20,000 preferred shares at $50 per share. Dec 15 The directors declared a total cash dividend of $250.000 payable on Jan 5.2023 to the Dec 20 shareholde Dec 31 Reported a net loss of $185,000 and closed the income Summary and Dividends account (if required) red: sent all required journal entries for 2022 many common shares were issued and outstanding at December 31.2022

Answer & Explanation Solved by verified expert

See Answer