Question
JKL Corporation's equity statement for the year ended December 31, 20XX, shows the following: Beginning Common Stock: $200,000 Issuance of Common Stock: $100,000 Net Income:
JKL Corporation's equity statement for the year ended December 31, 20XX, shows the following:
- Beginning Common Stock: $200,000
- Issuance of Common Stock: $100,000
- Net Income: $150,000
- Dividends Declared: $50,000
- Ending Retained Earnings: $300,000
Prepare the equity statement, including the changes in common stock and retained earnings.
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Survey of Accounting
Authors: Thomas Edmonds, Christopher Edmonds, Philip Olds, Frances McNair, Bor Yi Tsay
5th edition
1259631125, 978-1259631122
