Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. on january 1, 2021. kraft company had 75.000 commo

On January 1, 2021. Kraft Company had 75.000 common shares, recorded at $600,000. The company...

90.2K

Verified Solution

Question

Accounting

image
image
image
On January 1, 2021. Kraft Company had 75.000 common shares, recorded at $600,000. The company followy IFRS Assume the balance in Retained Earnings at the beginning of the year is $400,000 and profit for the year was $185.000. During the year the following transactions occurred: Apr. 1 Issued 10.000 common shares at $10 per share. Declared a 5% stock dividend to shareholders of record on September 5, distributable on September 20. The shores were trading for $13.50 a share at this time. June 15 Sep 21 Announced a 2-for-1 stock split Shares were trading at $11.25 per share at the time Nov. 1 Issued 2.000.common shares at $3.70 per stare Dec 20 Repurchased 10,000 common shares for $5 per share. This was the heat time Hum had repurchased its own sures Dec 27 Paid cash dividends of $36.000. Prepare the Retained Earnings section only of the statement of changes in shareholders' equity Kraft Company Statement of Changes in Shareholders' Equity O Saale v Kraft Company Statement of Changes in Shareholders' Equity Reacquisiton of Shares Profit/ (Loss) Stock Dividend Balance, December 31 Cash Dividends Balance, January 1 le 12 10

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

Chemistry
1.2K views

What are glycosaminoglycans, and why are sugars good candidates for molecules that fill that role

Physics
1.2K views

(a)For what range in ν is the function f(x) = x ν in Hilbert space? (4) (b) Why...

Physics
1.2K views

A ball of mass 100g is dropped from a height of 10 m It loses...

Physics
1.2K views

Two blocks A and B of masses m and 2m respectively are connected by a...

Geometry
1.2K views

Find the value of x Sho 5 14x 28 49 B

Accounting
1.2K views

Your project is to plan and implement an exciting end of school year, multicultural celebration...

Accounting
1.2K views

When a potentially dilutive security is present, a company must test the security to see...

Accounting
1.2K views

Show Answer On ENTIRE SCREEN Rosetta's Foods produces...

Accounting
1.2K views

Required a-1. Prepare debt service fund and govenment-wide entries in general journal form to reflect,...

Accounting
1.2K views

Use the following information to compute each department's contribution to overhead. Which department contributes the...

Accounting
1.2K views

MSI's educational products are currently sold without any supplemental materials. The company is considering the...

Accounting
1.2K views

Attempts: 0 of 3 used b) The sales price increases by 12% and variable cost...