Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Statement of Shareholders Equity On January 1, 2019, Osgood Film Studios reported the following alphabetical list of shareholders equity items Additional pald.in capital on common

image text in transcribed
Statement of Shareholders Equity On January 1, 2019, Osgood Film Studios reported the following alphabetical list of shareholders equity items Additional pald.in capital on common stock $134,725 Additional pald-in capital on preferred stock 17,200 Common stock, $2 par 63,400 Preferred stock, 5100 par 85,000 Retained earnings 206,000 During 2019, the company sold 2,200 shares of common stock for $10 per share and 220 shares of preferred stock for $131 per stare. It also earned Income of $89,000 and paid dividends of $11 per share on the preferred stock and $1.50 per share on the common stock outstanding at the end of 2019. Required: Prepa Osgood's statement of shareholders' equity (include retained earnings) for 2019 OSGOOD FILM STUDIOS Statement of Shareholders' Equity For Year Ended December 31, 2019 Preferred Common Stock Stock $100 par $2. par Additional Additional Pald-in Paid in Capital Capital on on Preferred Common Stock Stock 17,200 134725 Retained Earnings Total 206.000 SUZ 325 85,000 61.400 Balances, 1/1/19 Common stock Issaed Preferred stock issued Net Income Cash dividend paid on preferred Cash dividend paid on common bl. Balanced, 12/31/19 Next

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting

Authors: Stacey Whitecotton, Robert Libby, Fred Phillips

2nd edition

978-0078025518

Students also viewed these Accounting questions