Required information

E5-13 (Algo) Inferring Stock Issuances and Cash Dividends from Changes in Stockholders' Equity LO5-3

Skip to question

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

Consolidated Edison, Incorporated (Con Edison), is a public utility company operating primarily in New York whose annual revenues exceed $12 billion. It reported the following December 31 simplified balances in its statement of stockholders equity (dollars in millions):

	Current Year	Prior Year
Common stock	$ 38	$ 35
Paid-in capital	8,154	7,237
Retained earnings	10,700	10,278

During the current year, Con Edison reported net income of $1,353.

E5-13 Part 2

2. Assume that the only other transaction that affected stockholders equity during the current year was a single stock issuance for cash. Recreate the journal entry reflecting the stock issuance (in millions).

Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).