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Category > Business & Finance Posted 12 Dec 2017 My Price 10.00

P5-4 Preparing a Statement of Stockholders Equity LO5-3

P5-4 Preparing a Statement of Stockholders Equity LO5-3

At the end of the 2014 annual reporting period, Barnard Corporation’s balance sheet showed the following:

 

BARNARD CORPORATION
Balance Sheet
At December 31, 2014
  Stockholders’ equity    
  Contributed capital    
     Common stock (par $15; 5,800 shares) $ 87,000  
     Paid-in capital   12,000  
 
       Total contributed capital   99,000  
  Retained earnings   50,000  
 
  Total stockholders’ equity $ 149,000  
 

 

During 2015, the following selected transactions (summarized) were completed:

 

a. Sold and issued 1,200 shares of common stock at $20 cash per share (at year-end).
b. Determined net income, $45,000.
c. Declared and paid a cash dividend of $3 per share on the beginning shares outstanding.

 

Required:

Prepare a statement of stockholders’ equity for the year ended December 31, 2015.
 

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CourseLover
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Status NEW Posted 12 Dec 2017 06:12 AM My Price 10.00

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