Question
American Express Company has the following equity accounts on January 1, 2023: Common Stock $250,000 and Retained Earnings $400,000. During 2023, the company earned a
American Express Company has the following equity accounts on January 1, 2023: Common Stock $250,000 and Retained Earnings $400,000. During 2023, the company earned a net income of $100,000 and paid dividends of $35,000. Additionally, the company repurchased shares worth $50,000. Prepare the statement of changes in equity for American Express Company for the year ending December 31, 2023.
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Accounting Volume 1
Authors: Charles T. Horngren, Walter T. Harrison, Jo Ann L. Johnston, Carol A. Meissner, Peter R. Norwood
9th Canadian edition
978-013309863, 9780133128338, 013309863X, 133128334, 978-0132690096
