E10-54. (Learning Objectives 2, 3, 4: Explaining the changes in shareholders equity) Moon Walk Corporation reported the
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E10-54. (Learning Objectives 2, 3, 4: Explaining the changes in shareholders’ equity) Moon Walk Corporation reported the following shareholders’ equity data (all dollars in millions except par value per share):
Moon Walk earned a net income of $2,950 during 20X6. For each account except Retained Earnings, one transaction explains the change from the December 31, 20X5, balance to the December 31, 20X6, balance. Two transactions affected Retained Earnings. Give a full explanation, including the dollar amount, for the change in each account.
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Related Book For
Financial Accounting International Financial Reporting Standards Global Edition
ISBN: 9781292211145
11th Edition
Authors: Charles T. Horngren, C. William Thomas, Wendy M. Tietz, Themin Suwardy, Walter T. Harrison
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