Answered step by step
Verified Expert Solution
Question
1 Approved Answer
XYZ. reports the following information for 2021: sales revenue $700,000, cost of goods sold $500,000, operating expenses $80,000, and an unrealized holding loss on available-for-sale
XYZ. reports the following information for 2021: sales revenue $700,000, cost of goods sold $500,000, operating expenses $80,000, and an unrealized holding loss on available-for-sale securities for 2021 of 560,000. It declared and paid a cash dividend of $10,000 in 2017. XYZ issued 4,000 shares for $15,000, and issued 10,000 shares for equipment that has a fair value of $50,000. Tax rate is 20% XYZ has 12/31/20 balance in stockholders' equity of $520,000. Common Stock Par Value $2, authorized 400,000 shares, issued and outstanding shares of 100,000, average issue price of $3.50; accumulated other comprehensive income $80,000; and retained earnings $90,000. Instructions Prepare a statement of stockholders' equity. Prepare the stockholders' equity section of the balance sheet as it would be presented in a classified balance sheet. 52x100,000 Retained Earnings Totals Common Stock APIC Beginning Balances 520000 90,000 80,000 20.000 150,000 Net income 7 7 7 7 PED prvensive 2 2 2 Income Dividends issue cls 3 ? 2 issue als Ending, blonus 2 ? 2 Stckholders' Equity Common Stock APIC AOCI Retained Earnings Total Stockholders' Equity
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started