Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. wholegrain heath foods inc. is authorued to issue.

Wholegrain Heath Foods inc. is authorued to issue...

60.1K

Verified Solution

Question

Accounting

image
image
Wholegrain Heath Foods inc. is authorued to issue 4.250,000 common shares. (1) (Click the icon to view additional information.) Requirement Show the computation of Wholegrain's total shareholders' equity at December 31,2000 . Present a detaled computation of each elerment of thareholders' ecuity. Fint calculate the balance of common shares account as a result of the share transactons. Start with the common shares only, we wit calculate the balance of Retaned Eamings in the next ste (Use parentheses or a minus sign for numbers to be subtracted.) Additional information In its initial publioffering during 2016, Wholegrain issued 600,000 common shares for $6.50 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 declared and paid cash dividends of $110,000. A 5 percent stock dividend was distributed to the shareholders in 2020 on the shares outstanding. The market price was $10.00 per share when the stock dividend was distributed. At December 31,2020 , the company has total assets of $14,400,000 and total liabilities of $6,310,000

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

Mechanical Engineering
1.2K views

A small community of 50 members in Bidiya has decided to build a mini biogas plant...

General Management
1.2K views

question 1 SWOT ANALYSIS OF STARBUCKS. QUESTION 2 TOWS matrix of Starbucks QUESTION 3 Starbucks mission, objectives,...

Finance
1.2K views

Suppose an investor would like to buy 200 Treasury notes. The investor wants notes with an...

Accounting
1.2K views

Lou Barlow, a divisional manager for Sage Company, has an opportunity to manufacture and sell one...

Biology
1.2K views

Which of the following types of media would be appropriate to use in order to...

Physics
1.2K views

What is the moment of inertia of a uniform solid cylinder about its central axis...

Statistics
1.2K views

typing speed The stem and leaf display below shows the results for the most recent...

Accounting
1.2K views

Amy and Mitchell share equally (50%) in the profits, losses, and capital of the accrual...

Accounting
1.2K views

Objective This assignment examines the importance of the cost of quality to an organization. We...

Accounting
1.2K views

C 29. MC.06.69.ALGO Boxwood Company sells blankets for $37 each. The following information was taken...

Accounting
1.2K views

A new corporation ended its first 1 point year of operations with assets of $100,000,...

Finance
1.2K views

Paragraph Styles Stock Investment $100,000 $70,000 $30,000 $200,000 $400,000 Beta 1.40 1.60 1.10 1.00 Total...