On December 31, 2019, the shareholders' equity section of Kay Inc. was as follows: Common shares, no par value: authorized 30,000 shares; $
\begin{array}{ll}
\text{ issued and outstanding 9,000 shares ............................ } & \$ 206,000 \
\text{ Retained earnings ........................................................} & \text{ $\underline{\text{ 261,000 }}$ } \
\text{ Total shar eholders' equity .......................................... } & \$ 467,000 \

\end{array}
$ On March 31, 2020, when the market value of Kay's shares was $ 27 per share, the corporation declared a 20% stock dividend, and accordingly 1,800 additional shares were issued. For the three months ended March 31, 2020, Kay reported a net loss of $ 48,000. The balance of Kay's retained earnings at March 31, 2020, should be

Question

On December 31, 2019, the shareholders' equity section of Kay Inc. was as follows: Common shares, no par value: authorized 30,000 shares; $
\begin{array}{ll}
\text{ issued and outstanding 9,000 shares ............................   } & \$ 206,000 \
\text{ Retained earnings  ........................................................}  & \text{ \(\underline{\text{ 261,000 }}$    }  \
\text{  Total shar eholders' equity .......................................... }  & \$ 467,000 \

\end{array}
\) On March 31, 2020, when the market value of Kay's shares was $ 27 per share, the corporation declared a 20% stock dividend, and accordingly 1,800 additional shares were issued. For the three months ended March 31, 2020, Kay reported a net loss of $ 48,000. The balance of Kay's retained earnings at March 31, 2020, should be

Quizplus · Accepted Answer

The Answer of On December 31, 2019, the shareholders' equity section of Kay Inc. was as follows: Common shares, no par value: authorized 30,000 shares; $
\begin{array}{ll}
\text{ issued and outstanding 9,000 shares ............................   } & \$ 206,000 \
\text{ Retained earnings  ........................................................}  & \text{ \(\underline{\text{ 261,000 }}$    }  \
\text{  Total shar eholders' equity .......................................... }  & \$ 467,000 \

\end{array}
\) On March 31, 2020, when the market value of Kay's shares was $ 27 per share, the corporation declared a 20% stock dividend, and accordingly 1,800 additional shares were issued. For the three months ended March 31, 2020, Kay reported a net loss of $ 48,000. The balance of Kay's retained earnings at March 31, 2020, should be

On December 31, 2019, the Shareholders' Equity Section of Kay