Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

using this data and accounts create a statement of stockholders' equity. Format is poster below use this format for the statement of stockholders equity here

using this data and accounts create a statement of stockholders' equity. Format is poster below
image text in transcribed
use this format for the statement of stockholders equity
image text in transcribed
here Problem Data The company issued $50,000 of common stock during the year 2112. Use this list of accounts and account balances as of 12/31/2112. All accounts have normal balances The note payable of 510.000 is not due until the year 2120 Balance Account Name A A/D - Equipment L Accounts Payable A Accounts Receivable $15,000 40,000 43,000 33,000 CA Cash 100,000 5,000 12,500 50,000 25,000 10,000 35,000 E Common Stock Deprecation Expense - Equipment DE Dividends LA Equipment Inventory Note Payable Prepaid Rent HP Rent Expense Retained Earnings Salaries Expense Salaries Payable Service Revenue Supplies Expense Unearned Service Revenue 24,000 16,000 95,000 3,500 145,500 15,000 7,500 Statement of Stockholders' Equity Common Retained Other (in millions) Stock Earnings Equity Balance at September 26, 2015... $27,416 $92,284 $(345) Issuance of common stock.. 3,835 Net income.. 45,687 Dividends. (12,188) Other adjustments (29,419) 979 Balance at September 24, 2016... 31,251 96,364 634 Issuance of common stock.. 4,616 Net income... 48,351 Dividends. (12,803) Other adjustments (33,582) (784) Balance at September 30, 2017... ..... $35,867 $98,330 $(150) Total Equity $119,355 3,835 45,687 (12,188) (28,440) 128,249 4,616 48,351 (12,803) (34,366 $134,047

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

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

Payroll Accounting

Authors: Bernard J. Bieg, Judith A. Toland

2013 edition

113396253X, 978-1133962533

More Books

Students also viewed these Accounting questions