At December 31, 2015, Gentili Corp. reported the following stockholders' equity. During 2016, Gentili completed these transactions

Question:

At December 31, 2015, Gentili Corp. reported the following stockholders' equity.

Paid-in Capital: Common Stock, $7 par, 200,000 shares authorized, 120,000 shares issued Additional Paid-in Capital-Commo

During 2016, Gentili completed these transactions and events in this order:
a. Sold 1,200 shares of treasury stock for $39 per share; the cost of these shares was $34 per share
b. Issued 800 shares of common stock at $20 per share.
c. Net income for the year was $153,000
d. Declared and paid cash dividends of $55,000
Requirements
Prepare Gentili Corp.'s statement of stockholders' equity for the year ended December 31, 2016?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Financial Accounting

ISBN: 978-0134436111

4th edition

Authors: Robert Kemp, Jeffrey Waybright

Question Posted: