Question
Alco Company is authorized to issue 100,000 shares of AED 10, preferred stock of par value AED 100 300,000 shares of common stock of par
Alco Company is authorized to issue 100,000 shares of AED 10, preferred stock of par value AED 100 300,000 shares of common stock of par value AED 8
The following transactions took place during the year 2014.
On Jan 1 2014; Company issued 5,000 shares of preferred stock at AED 120 each
The company also issued 100,000 shares of common stock at AED 10 each.
During the year the company earned a net income of AED 850,000 and decided to distribute AED 1 per share dividend to common stockholders
Required
Prepare the shareholders equity section for Alco Company for the year ended Dec 31, 2014 from the information given above.
Shareholders Equity Section AED
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Statement of Retained Earnings AED
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
The Handbook Of Financial Modeling
Authors: Jack Avon
2nd Edition
1484265394, 978-1484265390
