E11-9 (Algo) Recording and Reporting Stockholders' Equity Transactions, Including Closing Entry [LO 11-2, LO 11-3]

Skip to question

[The following information applies to the questions displayed below.]

The annual report for Malibu Beachwear reported the following transactions affecting stockholders equity:

1. Purchased $351,400 of common stock now held in treasury.
2. Declared cash dividends in the amount of $260,700.
3. Paid the dividends in (b).
4. Issued 114,000 new shares of $0.10 par value common shares for $2 per share.
5. Closed the Dividends account.

E11-9 (Algo) Part 3

3. Prepare a statement of stockholders equity, assuming the following opening balances.

	common stock	additional paid in capital	retained earnings	treasury stock
beginning	13,200	197,000	151,400	0
stock issuances
net income
dividends:common
ending