On November 1 of the current year, Sunbury Corporation invested 90,000 in a new delivery truck. The

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On November 1 of the current year, Sunbury Corporation invested 90,000 in a new delivery truck. The truck is being depreciated at a monthly rate of $625. During the year, the company issued additional stock for $200,000 and declared dividends of $50,000. Its net income for the year was $180,000. Sunbury’s ending Retained Earnings balance reported in its December 31 balance sheet was $400,000. Its beginning Capital Stock balance on January 1 of the current year was $300,000. Given this information, determine the total stockholders’ equity reported in the company’s balance sheet dated December 31 of the current year.

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Financial And Managerial Accounting The Basis For Business Decisions

ISBN: 9781260247930

19th Edition

Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello

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