On January 1, 2020, Ven Corporation had the following stockholders equity accounts
| Common Stock (no par value, 90,000 shares issued and outstanding) | $1,600,000 |
| Retained Earnings | 500,000 |
During the year, the following transactions occurred.
| Feb. 1 | Declared a $1 cash dividend per share to stockholders' of record on February 15, payable March 1. |
| Mar. 1 | Paid the dividend declared in February. |
| Apr. 1 | Announced a 3-for-1 stock split. Prior to the split, the market price per share was $36. |
| July 1 | Declared a 5% stock dividend to stockholders of record on July 15, distributable July 31. On July 1, the market price of the stock was $16 per share. |
| 31 | Issued the shares for the stock dividend. |
| Dec. 1 | Declared a $0.50 per share dividend to stockholders of record on December 15, payable January 5, 2021.. |
| 31 | Determined that net income for the year was $350,000 |
Instruction
Prepare the stockholders' eqity section of the balance sheet at
- March 31
- June 30
- September 31
- December 31, 2020
Solution
a.
Ven Corporation
Balance Sheet (Partial)
March 31, 2020
Balance Sheet (Partial)
March 31, 2020
b.
Ven Corporation
Balance Sheet (Partial)
June 30, 2020
Balance Sheet (Partial)
June 30, 2020
c.
Ven Corporation
Balance Sheet (Partial)
September 31, 2020
Balance Sheet (Partial)
September 31, 2020
d.
Ven Corporation
Balance Sheet (Partial)
December 31, 2020
Balance Sheet (Partial)
December 31, 2020
