Answer to Question #103728 in Finance for ibrar

Question

March 1 The directors declared a $0.75 per share cash dividend payable on March 31, to the March 15 shareholders of record.
June 1 Issued 12,000 common shares at $6.50 per share.
October 1 Issued 8,000 common shares at $4.75 per share.
December 1 The directors declared a $1.25 per share cash dividend payable on January 2, 2016, to the December 15 shareholders of record.
December 31 Net income for the year is $245,000.

Required:

1. Use the T-account format below to record the effect of the 2015 transactions on shareholders’ equity accounts. (5 marks

Answer 1

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