Zlin Aerospace Corporation reported the following equity account balances on December 31, 2013: Preferred shares, $3.60...

Get help with any kind of assignment - from a high school essay to a PhD dissertation

  1. Order Custom Essay, Course Work, Research and Term Papers

ACCOUNTING 1102-Zlin Aerospace Corporation reported the following

April 14, 2018

Zlin Aerospace Corporation reported the following equity account balances on December 31, 2013:


Preferred shares, $3.60 cumulative, unlimited shares authorized$ 0
Common shares, unlimited shares authorized,
26,000 shares issued and outstanding		717,600
Retained Earnings336,000


In 2014, the company had the following transactions affecting shareholders and the shareholders’ equity accounts:


Jan.1Purchased and retired 3,200 common shares at $36 per share.
14

The directors declared a 9% share dividend distributable on February 5 to the January 30 shareholders of record. The shares were trading at $46.80 pershare.

30Date of record regarding the 9% share dividend.
Feb.5Date of distribution regarding the 9% share dividend.
July6Sold 6,200 preferred shares at $72 per share.
Sept.5

The directors declared a total cash dividend of $48,011 payable on October 5 to the September 20 shareholders of record.

Oct.5The cash dividend declared on September 5 was paid.
Dec.31Closed the $477,600 credit balance in the Income Summary account to Retained Earnings.
31Closed the dividend accounts.


Required
1.

Prepare journal entries to record the transactions and closings for 2014 (assume the retirements were the first ever recorded by Zlin Aerospace). (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

2.

Prepare the statement of changes in equity for the year ended December 31, 2014.(Amounts to be deducted should be indicated by a minus sign.)











OUR SERVICE CHARTER






  • 100% Confidentiality

    We mind about the interests of our clients holistically. It is for this reason that we maintain high-level confidentiality in regard to our clients’ personal information. Importantly, we use the information for purposes that relate with our services only. The only information that we require relates to our clients’ writing needs. It is also important to note that our clients’ payment information is secure with us. If there is any query in regard to the payment information, then our support team is always willing to provide any clarifications in a prompt manner. Confidentiality extends to the fact that a client made use of our services. It means that we hold our relationship with our clients in secrecy. Importantly, our confidentiality measures beat any advanced security measure that can identify any information regarding our relationship with our clients. It means that our clients transact with us freely without any fear of information leakage.

  • Free Revisions

    The papers that we deliver usually reflect a high quality level. However, there is always a room for any additional fine-tuning touch in line with a client’s preference without any additional charges. To begin with, a client has discretion to make a choice on their preferred top writer from our team. Such a writer could have handled past work for the client and received a positive review from the same. It means that the client has confidence of the quality of service that the writer delivers. Secondly, a client has an option of making use of our editing services. Our editors are always on standby to revise the paper and ensure that it matches with the expectations of a client that the instruction brief had detailed. The revision covers content adjustment that removes off-topic details, addition of sources, removal of language style errors, and assessment of the referencing style in order to enhance compliance.

  • 24/7 Customer Support

    Our team of writers prides in high-level competence. The writers have the required expertise that enables them to deliver quality papers that match with the requirements of the grading rubric. In the absence of the rubric, we ensure that the writers follow the clients’ instruction brief to the letter. We can confidently assure our clients to expect nothing short of a pass from the papers that we deliver. Importantly, we have qualified writers who handle different areas of study. This diversification enables us to allot clients’ orders to the writer who is well seasoned in the subject area of study. It also enables the team to become more professional due to specialization. Our clients should put their trust in our service delivery and expect to successfully attain high grades at all times. The fact that we offer free revision reflects our dedication in delivering high quality papers that match with our clients’ expectations.

  • Professional Academic Writers

    An academic degree is one of the qualifications that our writers hold. This is only a minimum requirement that we ask from our writers, but the team also has writers who possess higher educational credentials. It means that the team comprises of competent writers who have gone through institutions of higher learning and passed their exams. Subsequently, the writers have a good grasp of what our clients require. It is notable that our writers not only want to apply their acquired knowledge, but they are also willing to help our clients to outperform them. This is a clear indication of a team that is willing to walk an extra mile. We uphold professionalism in our operations, and our clients should look forward to receive services from a team of experts. It is the spirit of value addition that makes us to scale any heights in order to deliver and outperform our clients’ expectations.




Related Questions