Question
At the beginning of the year (January 1), Buffalo Drilling has $11,000 of common stock outstanding and retained earnings of $7,900. During the year, Buffalo
At the beginning of the year (January 1), Buffalo Drilling has $11,000 of common stock outstanding and retained earnings of $7,900. During the year, Buffalo reports net income of $8,200 and pays dividends of $2,900. In addition, Buffalo issues additional common stock for $7,700.
Required:
Prepare the statement of stockholders' equity at the end of the year (December 31).
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Financial Accounting An International Introduction
Authors: David Alexander
7th Edition
129229583X, 978-1292295831
