Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Formulating a Statement of Stockholders' Equity from Raw Data Gap, Inc., reports the following selected information at January 30, 2010 ($ millions). Contributed capital, Jan.

Formulating a Statement of Stockholders' Equity from Raw Data Gap, Inc., reports the following selected information at January 30, 2010 ($ millions).

Contributed capital, Jan. 30, 2010 $2,990
Treasury stock, Jan. 30, 2010 (9,069)
Retained earnings, Jan. 30, 2010 10,815
Accumulated other comprehensive income, Jan. 30, 2010 155

During fiscal year 2011, Gap reported the following:

1. Sale of stock $ 4
2. Purchase of stock 1,797
3. Net income 1,204
4. Cash dividends 252
5. Other comprehensive income 30

Use this information to prepare the statement of stockholders' equity for Gap, Inc., for year ended January 29, 2011. Hint: Enter treasury stock, cash dividends and losses as negative numbers.

Gap, Inc.

Statement of Stockholders' Equity

AnswerJanuary 29, 2011For Year Ended January 29, 2011

Common Stock and APIC Treasury Stock Retained Earnings Accumulated Other Comp. Income Stockholders' Equity
January 30, 2010 $Answer $Answer $Answer $Answer $Answer
Sale of stock Answer Answer Answer Answer Answer
Purchase of stock Answer Answer Answer Answer Answer
Net income Answer Answer Answer Answer Answer
Other comprehensive income Answer Answer Answer Answer Answer
Cash dividends Answer Answer Answer Answer Answer
January 29, 2011 $Answer $Answer $Answer $Answer $Answer

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

Retail Industry IRS Audit Technique Guide

Authors: Internal Revenue Service

1st Edition

1304114783, 978-1304114785

More Books

Students also viewed these Accounting questions