At the beginning of 2021, Artichoke Academy reported a balance in common stock of $150,000 and a

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At the beginning of 2021, Artichoke Academy reported a balance in common stock of $150,000 and a balance in retained earnings of $50,000. During the year, the company issued additional shares of stock for $40,000, earned net income of $30,000, and paid dividends of $10,000. In addition, the company reported balances for the following assets and liabilities on December 31.

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Required:1. Prepare a statement of stockholders? equity.2. Prepare a balance sheet.

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...
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Financial Accounting

ISBN: 978-1259914898

5th edition

Authors: David Spiceland, Wayne M. Thomas, Don Herrmann

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