Question

		2021						2020
		Number of Shares			Amount			Number of Shares		Amount
Common shares, unlimited authorized
Balance, January 1		440,000			$528,000			440,000		$528,000
Issued shares for cash		44,000			28,500					0
Reacquired shares		(22,000	)		(25,295	)				0
Balance, December 31		462,000			531,205			440,000		528,000
Contributed surplus—reacquisition of common shares
Balance, January 1					13,000					13,000
Reacquired common shares					7,000					0
Balance, December 31					20,000					13,000
Retained earnings
Balance, January 1					158,000					167,000
Profit (loss)					20,000					17,500
Common dividends—Cash					(19,000	)				(26,500	)
Balance, December 31					159,000					158,000
Accumulated other comprehensive income
Balance, January 1					45,000					48,000
Other comprehensive income (loss)					15,000					(3,000	)
Balance, December 31					60,000					45,000
Shareholders’ equity, December 31					$770,205					$744,000

Prepare the shareholders' equity section of the balance sheet at December 31, 2021.

SUNLAND SUPPLY CORPORATION Partial Balance Sheet choose the accounting period                                                                      Year ended December 31, 2021December 31, 2021Month ended December 31, 2021
select an opening section name                                                                      Total Long-Term InvestmentsTotal Current LiabilitiesLong-Term InvestmentsLong-Term LiabilitiesTotal LiabilitiesTotal AssetsCurrent LiabilitiesTotal Property, Plant and EquipmentTotal Shareholders' EquityTotal Long-Term LiabilitiesTotal Current AssetsCurrent AssetsTotal Liabilities and Shareholders' EquityShareholders' EquityTotal Intangible AssetsIntangible AssetsProperty, Plant and Equipment
select an opening subsection name                                                                      Contributed CapitalStock Dividends DistributableAccumulated Other Comprehensive IncomeCashTotal Contributed CapitalContributed Surplus—Reacquisition of Common SharesRetained EarningsCommon Shares
select a balance sheet item                                                                      Total Contributed CapitalContributed Surplus—Reacquisition of Common SharesRetained EarningsContributed CapitalCommon SharesAccumulated Other Comprehensive IncomeCashStock Dividends Distributable					$enter a dollar amount
select a balance sheet item                                                                      CashRetained EarningsContributed Surplus—Reacquisition of Common SharesAccumulated Other Comprehensive IncomeStock Dividends DistributableContributed CapitalCommon SharesTotal Contributed Capital					enter a dollar amount
select a closing subsection name                                                                      Common SharesRetained EarningsContributed CapitalTotal Contributed CapitalAccumulated Other Comprehensive IncomeStock Dividends DistributableContributed Surplus—Reacquisition of Common SharesCash					enter a subtotal of the two previous amounts
select a balance sheet item                                                                      CashCommon SharesTotal Contributed CapitalContributed CapitalRetained EarningsAccumulated Other Comprehensive IncomeStock Dividends DistributableContributed Surplus—Reacquisition of Common Shares					enter a dollar amount
select a balance sheet item                                                                      Stock Dividends DistributableCashCommon SharesContributed Surplus—Reacquisition of Common SharesContributed CapitalAccumulated Other Comprehensive IncomeTotal Contributed CapitalRetained Earnings					enter a dollar amount
select a closing section name                                                                      Total Property, Plant and EquipmentLong-Term InvestmentsLong-Term LiabilitiesTotal Long-Term InvestmentsTotal Current LiabilitiesTotal Long-Term LiabilitiesTotal Intangible AssetsCurrent AssetsIntangible AssetsTotal Current AssetsTotal LiabilitiesTotal AssetsShareholders' EquityTotal Shareholders' EquityCurrent LiabilitiesProperty, Plant and EquipmentTotal Liabilities and Shareholders' Equity					$enter a total amount for this section

Answer 1

Solution

STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY YEAR ENDED DECEMBER 31, 2020
	Common Shares	Contribution Surplus - Reaquisition of Common Shares	Retained Earnings	Accumulated other comprehensive Income	Total
No.	Amount
Balance on Jan -1	440000	528000	13000	158000	45000	744000
Issued shares for cash	44000	28500				28500
Required Common Shares	-22000	-25295	7000			-18295
Cash Divident				-19000		-19000
P/(L) / Comprehensive Income				20000	15000	35000
Balance on Dec - 31	462000	531205	20000	159000	60000	770205