50.1K

Verified Solution

Question

Accounting

image
image
image
image
IClick, the icen to vew add rosal indermation. Requiremest to be subtracted ? Additional information fatables of fo bevicou Calculate the balance of retained earnings as a result of the transactions. (Use parentheses or a minus sign for numbers to be subtracted or for negative balances.) Retained earnings (deficit) Retaned eamings (deficit) Complete the table to calculate total shareholders' equity. (Enter the accounts in the proper order. Use parentheses or a minus sign when subtracting numbers.) Wholegrain Health Foods inc. is authorized to issue 4,250,000 common shares (Click the icon to view additional information.) Requirement Show the computation of Wholegrain's total shareholders' equity at December 31. 2020. Present a detailed computation of each element of 5hareholders' oquity Additional information he common shares only, we will calculate the balance of Ret In its initial public offering duting 2016, Wholegrain issued 600,000 common. shares for $650 per share. Over the next year, Wholegrain's share price increased and the company issued 420,000 more shares at an average price of $8.00. During the five years from 2016 through 2020 , Wholegrain earned net income of $940,000 and declares and paid cash dividends of $110,000 A 5 percont stock dividend was distrbuted to the shareholders in 2020 on the shares outstanding. The market price was $1000 per share when the stock dividend was distributed At December 31,2020 , the company has total assets of $14,400,000 and total liabilltios of 53,310,000 - Cortmon shares Pormmon thaims Retained emrnings (deficit) Betarng tiartangs (deficif)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students