Question
Romney's Marketing Company has the following adjusted trial balance at the end of the current year. No dividends were declared. However, 500 shares ($0.10 par
Romney's Marketing Company has the following adjusted trial balance at the end of the current year. No dividends were declared. However, 500 shares ($0.10 par value per share) issued at the end of the year for $3,000 are included below:
Debit | Credit | ||||||
Cash | $ | 1,500 | |||||
Accounts receivable | 2,200 | ||||||
Interest receivable | 100 | ||||||
Prepaid insurance | 1,600 | ||||||
Notes receivable (long-term) | 2,800 | ||||||
Equipment | 15,290 | ||||||
Accumulated depreciation | $ | 3,000 | |||||
Accounts payable | 2,400 | ||||||
Accrued expenses payable | 3,920 | ||||||
Income taxes payable | 2,700 | ||||||
Unearned rent revenue | 500 | ||||||
Common Stock (800 shares) | 80 | ||||||
Additional paid-in capital | 3,620 | ||||||
Retained earnings | 2,000 | ||||||
Sales revenue | 38,500 | ||||||
Interest revenue | 100 | ||||||
Rent revenue | 800 | ||||||
Wages expense | 19,500 | ||||||
Depreciation expense | 1,800 | ||||||
Utilities expense | 380 | ||||||
Insurance expense | 750 | ||||||
Rent expense | 9,000 | ||||||
Income tax expense | 2,700 | ||||||
Total | $ | 57,620 | $ | 57,620 | |||
Prepare a statement of stockholders' equity in good form for the current year.
Rodneys Marketing Company
Statement Of Stockholders Equity
Common Stock. Additional Paid in Capital. Retained Earnings. Total Stockholders Equity (Theres 4 spaces within each row)
Balance Jan 1: _______. ________. __________. _______
_______. ________. __________. _______
_______. ________. __________. _______
_______. ________. __________. _______
Balance Dec 31: _______. ________. __________. _______
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