Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Formulating a Statement of Stockholders' Equity from Raw Data Gap, Inc., reports the following selected information at January 31, 2009 ($ millions). Contributed capital, Jan.
Formulating a Statement of Stockholders' Equity from Raw Data Gap, Inc., reports the following selected information at January 31, 2009 ($ millions). Contributed capital, Jan. 31, 2009 Treasury stock, Jan. 31, 2009 $2,950 (8,633) Retained earnings, Jan. 31, 2009 9,947 Accumulated other comprehensive income, Jan. 31, 2009 123 During fiscal year 2010, Gap reported the following: 1. Sale of stock 2. Purchase of stock 3. Net income $40 436 1,102 4. Cash dividends 234 5. Other comprehensive income 32 Use this information to prepare the statement of stockholders' equity for Gap, Inc., for year ended January 30, 2010. Hint: Enter treasury stock amounts, cash dividends and losses as negative numbers. Gap, Inc. Statement of Stockholders' Equity For Year Ended January 30, 2010 Accumulated Contributed Retained Capital Treasury Stock Earnings Other Comp. Stockholders' Income/(Loss) Equity January 31, 2009 $ 0 $ 0 $ 0 $ 0 $ 0 Use this information to prepare the statement of stockholders' equity for Gap, Inc., for year ended January 30, 2010. Hint: Enter treasury stock amounts, cash dividends and losses as negative numbers. Gap, Inc. Statement of Stockholders' Equity For Year Ended January 30, 2010 January 31, 2009 Sale of stock Repurchase of stock Net income Othercomprehensive income Cash dividends January 30, 2010 Accumulated Contributed Retained Capital Treasury Stock Earnings Other Comp. Stockholders' Income/(Loss) Equity LA 0 $ 0 $ 0 $ 0 $ 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 $ 0 $ 0 $ 0 $ 0 $ 0
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started