Required information

Skip to question

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

The December 31, Year 1, adjusted trial balance for a company is presented below.

2. Prepare a statement of stockholders' equity for the year ended December 31, Year 1, assuming no common stock was issued during Year 1.

interest Expense 3,400 $690,200 Totals $690, 200 2. Prepare a statement of stockholders' equity for the year ended December 31, Year 1, assur Year 1. Statement of Stockholders' Equity For the Year Ended December 31, Year 1 Common Stock Retained Earnings Total Stockholders' Equity Balance at January 1 Less: Dividends Balance at December 31 Credit Debit $ 10,400 134,000 4,400 22,000 240,000 Accounts Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) Common Stock Retained Earnings Service Revenue Salaries Expense Rent Expense Depreciation Expense Interest Expense Totals $119,000 10,400 9,400 3,400 24,000 140,000 44,000 340,000 240,000 12,000 24,000 3,400 $ 690,200 $690, 200