Question
On January 1, 2014, Shellenburger Inc. had the following stockholders equity account balances. Common Stock, no-par value (504,000 shares issued) $2,016,000 Common Stock Dividends Distributable
On January 1, 2014, Shellenburger Inc. had the following stockholders equity account balances.
| Common Stock, no-par value (504,000 shares issued) | $2,016,000 | |
| Common Stock Dividends Distributable | 243,000 | |
| Retained Earnings | 577,000 |
During 2014, the following transactions and events occurred.
| 1. | Issued 60,480 shares of common stock as a result of a 12% stock dividend declared on December 15, 2013. | |
| 2. | Issued 33,000 shares of common stock for cash at $6 per share. | |
| 3. | Corrected an error that had understated the net income for 2012 by $75,000. | |
| 4. | Declared and paid a cash dividend of $84,000. | |
| 5. | Earned net income of $296,000. |
Prepare the stockholders equity section of the balance sheet at December 31, 2014
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A Guide To Project Auditing
Authors: Association For Project Management
1st Edition
1903494745, 978-1903494745
