Shockey Electric Ltd. has a December 31 year end. On January 1, 2021, the company had the following shareholder's equity accounts. Shockey Electric Ltd. had the following transactions during 2021:
The company reported income of $ 710,000, including other comprehensive income of $ 12,000 for 2021.
Instructions
a) Record all of the transactions.
b) Prepare the Statement of Changes in Shareholders' Equity.
c) Calculate Backwater's 2021 earnings per share.

Question

Shockey Electric Ltd. has a December 31 year end. On January 1, 2021, the company had the following shareholder's equity accounts.  Shockey Electric Ltd. had the following transactions during 2021:
  The company reported income of $ 710,000, including other comprehensive income of $ 12,000 for 2021.
Instructions 
a) Record all of the transactions.
b) Prepare the Statement of Changes in Shareholders' Equity.
c) Calculate Backwater's 2021 earnings per share.

Quizplus · Accepted Answer

The Answer of Shockey Electric Ltd. has a December 31 year end. On January 1, 2021, the company had the following shareholder's equity accounts.  Shockey Electric Ltd. had the following transactions during 2021:
  The company reported income of $ 710,000, including other comprehensive income of $ 12,000 for 2021.
Instructions 
a) Record all of the transactions.
b) Prepare the Statement of Changes in Shareholders' Equity.
c) Calculate Backwater's 2021 earnings per share.