Question

Details relating to balances for the equity accounts of Intravalue Corporation, and changes to those balances...

Details relating to balances for the equity accounts of Intravalue Corporation, and changes to those balances are outlined in the following table. Note that AOCI is accumulated other comprehensive income.

Balance or Changes

Amount ($000s)

Common shares, 2017, January 1

50,000

Retained earnings, 2017, January 1

39,000

Contributed surplus, 2017, January 1

15,000

AOCI, 2017, January 1

900

Net income, 2017

11,500

Other comprehensive income, 2017

250

Dividends declared in 2017

900

Sale of common shares in 2017

17,000

Required:  

Prepare a statement of changes in equity for the year ended December 31, 2017

Homework Answers

Answer #1

statement of changes in equity for the year ended December 31, 2017

Common shares Contributed surplus Retained earnings AOCI Total Stockholders' equity
Beginning balance 50,000 15,000 39,000 900 104,900
Net income 11,500 11,500
Other comprehensive income 250 250
Dividends declared - 900 - 900
Sale of common shares 17,000 17,000
Ending balance 67,000 15,000 49,600 1,150 $132,750

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