Question
At the beginning of the year (January 1), Buffalo Drilling has $8,800 of common stock outstanding and retained earnings of $7,450. During the year, Buffalo
| At the beginning of the year (January 1), Buffalo Drilling has $8,800 of common stock outstanding and retained earnings of $7,450. During the year, Buffalo reports net income of $7,100 and pays dividends of $2,370. In addition, Buffalo issues additional common stock for $6,600. |
| Required: |
| Prepare the statement of stockholders' equity at the end of the year (December 31).(Amounts to be deducted should be indicated with a minus sign. Leave no cells blank - be certain to enter "0" wherever required. Omit the "$" sign in your response.) |
| BUFFALO DRILLING Statement of Stockholders' Equity | |||
| Common Stock | Retained Earnings | Total Stockholders' Equity | |
| n/r | $n/r | $n/r | $n/r |
| n/r | n/r | n/r | n/r |
| n/r | n/r | n/r | n/r |
| n/r | n/r | n/r | n/r |
| n/r | $n/r | $n/r | $n/r |
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Financial and Managerial Accounting
Authors: John J Wild, Ken W. Shaw
8th edition
1260247856, 978-1260247855
