Question
Requirement Prepare a statement of stockholders' equity for the current year. Note: You will need to solve for net income using the given information. Round
Requirement Prepare a statement of stockholders' equity for the current year. Note: You will need to solve for net income using the given information. Round to the nearest dollar. (If a box is not used in the statement, leave the box empty; do not enter a zero. Round intermediary calculations and your final answers to the nearest whole dollar. | ||||
Statement of Stockholders' Equity | ||||
For the Current Year Ended December 31 | ||||
Accumulated | ||||
Other | Total | |||
Common | Retained | Comprehensive | Stockholders' | |
Stock | Earnings | Income (Loss) | Equity | |
Balance, January 1 | 1154000.00 | |||
Net Income | ||||
Dividends Declared | ||||
Issuance of Common Stock | ||||
Unrealized Gain on Available-For-Sale Securities, Net of Tax | ||||
Balance, December 31 |
Trial Balance (Selected Accounts)
Clarisas Cookie Company | ||
Trial Balance (Selected Accounts) | ||
For the Current Year Ended December 31 | ||
Account | Debit | Credit |
Retained Earnings, Beginning Balance | $1,154,000 | |
Accumulated Other Comprehensive Income, Beginning Balance | $60,275 | |
Dividends | 54,000 | |
Sales | 1,152,000 | |
Interest Income | 3,900 | |
Dividend Income | 3,450 | |
Gain on Sale of Property | 7,000 | |
Gain on Disposal of Plant Assets | 100,000 | |
Unrealized Gain on Trading Investments | 27,150 | |
Unrealized Gain on Available-for-Sale Bonds Before Tax | 3,100 | |
Gain on Sale of Discontinued Operations Before Tax | 59,200 | |
Cost of Goods Sold | 525,000 | |
Selling Expenses | 36,000 | |
Office Supplies Expense | 50,100 | |
Amortization Expense | 13,000 | |
Sales Salaries Expense | 20,500 | |
Advertising Expense | 20,500 | |
Office Salaries Expense | 63,000 | |
Depreciation Expense | 27,000 | |
Legal Fees | 7,600 | |
Accounting Fees | 11,000 | |
Interest Expense | 6,300 | |
Loss on Asset Impairment | 9,400 |
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