Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Company reported the following items on its statement of shareholders' equity for the year ended December 31, 2018 (amounts in thousands of dollars) Data table

Company reported the following items on its statement of shareholders' equity for the year ended December 31,

2018

(amounts in thousands of dollars)

Data table

$3.50 Par Common Stock

Additional Paid-in Capital

Retained Earnings

Accumulated Other Comprehensive Income

Total Shareholders' Equity

Balance, December 31, 2017. . . . .

$400

$2,200

$6,000

$8

$8,608

Net earnings. . . . . . . . . . . . . . . . . . .

1,370

Other comprehensive income. . . .

5

Issuance of stock. . . . . . . . . . . . . . .

140

160

Cash dividends. . . . . . . . . . . . . . . .

(65)

Balance, December 31, 2018. . . . .

Requirements

1.

Determine the December 31,

2018,

balances in

Riverside's

shareholders' equity accounts and total shareholders' equity.

2.

Riverside's

total liabilities on December 31,

2018,

are

$7,000.

What is the company's debt ratio on this date?

3.

Was there a profit or a loss for the year ended December 31,

2018?

How can you tell?

4.

At what price per share did

Riverside

issue common stock during

2018?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting Tools for Business Decision Making

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

7th edition

978-1118344262, 111834426X, 1118162285, 978-1118562208, 1118562208, 978-1118162286

More Books

Students also viewed these Accounting questions