Question 5 On January 1, 2017, Ven Corporation had the following stockholders’ e
ID: 2436592 • Letter: Q
Question
Question 5
On January 1, 2017, Ven Corporation had the following stockholders’ equity accounts.
During the year, the following transactions occurred.
(Enter account name only and do not provide descriptive information. Round answers to 0 decimal places, e.g. 5,250.)
(a) Prepare the stockholders’ equity section of the balance sheet at March 31.
(b) Prepare the stockholders’ equity section of the balance sheet at June 30.
(c) Prepare the stockholders’ equity section of the balance sheet at September 30.
(d) Prepare the stockholders’ equity section of the balance sheet at December 31, 2017.
Explanation / Answer
(a) Prepare the stockholders’ equity section of the balance sheet at March 31. Common stock 1450000 no par value 88300 shares issued and outstanding Retained earnings 543000 Less : Dividend -88300 454700 Total Shareholders Equity 1904700 (b) Prepare the stockholders’ equity section of the balance sheet at June 30. Common stock 1450000 no par value 264900 shares issued and outstanding Retained earnings 454700 Total Shareholders Equity 1904700 (c) Prepare the stockholders’ equity section of the balance sheet at September 30. Common stock 1450000 no par value 280794 shares issued and outstanding Add: Stock Dividend 87000 1537000 Retained earnings 454700 Less : Dividend -87000 367700 Total Shareholders Equity 1904700 (d) Prepare the stockholders’ equity section of the balance sheet at December 31, 2017. Common stock 1450000 no par value 280794 shares issued and outstanding Retained earnings 367700 Add : Income 357000 Less : Dividend -112318 612382.4 Total Shareholders Equity 2062382
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