47. Use Oma Bean Corporation's adjusted trial balance to prepare Oma Bean's statement of stockholders'equity for 2019. There were no stock issuances or repurchases during 2019.OMA BEAN CORPORATIONAdjusted Trial BalanceFor Year Ending December 31, 2019DebitCreditCash$ 44,000Accounts receivable28,000376,000EquipmentAccumulated depreciationNotes payable$ 72,00060,000Common stock130,000Retained earnings62,000Service fees earned326,000Rent expense44,000Salaries expense116,000Depreciation expense42,0000Totals$650,000$650,000

Answered: Image /qna-images/answer/278c8a5a-2674-4cf0-b5e7-4eb1bff6e631.jpg

Answered: 47. Use Oma Bean Corporation's adjusted…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

View Policies Current Attempt in Progress The stockholders' equity accounts of Splish Company have the following balances on December 31, 2020. Common stock, $10 par, 293,000 shares issued and outstanding Paid-in capital in excess of par-common stock Retained earnings (a) Shares of Splish Company stock are currently selling on the Midwest Stock Exchange at $33. Prepare the appropriate journal entries for each of the following cases. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts) (b) (c) $2,930,000 1.190,000 5,310,000 A stock dividend of 5% is (1) declared and (2) issued. A stock dividend of 100% is (1) declared and (2) issued. A2-for-1 stock split is (1) declared and (2) issued. -71 E
Jj.84.
These financial statement items are for Sunland Corporation at year end, July 31, 2021: Operating expenses Salaries expense Deferred revenue Utilities expense Equipment Accounts payable Service revenue Rent revenue Common shares Cash Accounts receivable D Accumulated depreciation-equipment $32,500 46,700 12,000 2,600 70,200 5,020 116,100 19,000 27,500 5,560 16,100 5,800 Interest payable Supplies expense Dividends declared Depreciation expense Retained earnings, August 1, 2020 Rent expense Income tax expense Supplies Trading investments Bank loan payable (due December 31, 2021) Interest expense O $900 777891 700 14,500 3,500 22,940 11,500 5,700 2,100 20,500 24,800 Additional information: Sunland started the year with $14,000 of common shares and issued additional shares for $13,500 during the year. 1,900 O W
Question-based on, "Stockholders equity section". I have tried it but got it incorrect.
The stockholder's equity section of the balance sheet contains. .common stock .preferred stock .Additional stock .other accumulated comprehensive income. .Retained earnings It is important to understand how changes in the accounts impact the balance sheet and the financial position of the organization Genaing inc.has $200,000 of 5%, $10 par value preferred stock and $450,000 of $5 par value common stock issued and outstanding Dec. 31,2021 There were no stock issuance, stock splits or stoxk dividends for 2021. The organization's calender end is on Dec.31 2021. Preferred stock did not receive any dividends for 2019 or 2020 because the company did not have enough cash reserves to pay out dividends. The preferred stock has a mix characteristics .10% of the preferred stock is noncumulative, nonparticipating .20% of the preferred stock is cumulative, nonparticipating .20% of the preferred stock is noncumulative ,participating .50 of the preferred stock is cumulative, participating The…
View Policies Current Attempt in Progress The following information is available for Martinez Company at December 31, 2020, regarding its investments. Securities 500 shares of Runner Corporation common stock 7,400 shares of Sher-tor Corporation preferred stock (a) Prepare the adjusting entry (if any) for 2020, assuming the securities are classified as trading. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Account Titles and Explanation Unrealized Holding Gain or Loss - Equity Fair Value Adjustment Cost Fair Value $24,000 $39,000 593,000 564,000 $617,000 $603,000 Account Titles and Explanation Save for Later Debit (b) Prepare the adjusting entry (if any) for 2020, assuming the securities are classified as available-for-sale. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is…
What is your company’s common and preferred stock par or stated value? 2019
Please help me
ine following intormation pertains tO Alpha Computing at the ena of 2021: Assets $957,500 $452,500 $270,000 $330,000 Liabilities Net Income Common Stock Alpha Computing's Retained Earnings account had a zero balance at the beginning of 2021. What amount of dividends did the company declare 2021? Multiple Choice $96,000 $97,000 $98,000 $95.000
Wright Corporation had the following permanent accounts and ending balances on December 31, 2019 (before adjusting entries): Dr. ($) Cr. ($) Cash 400,000 Equipment 1,600,000 Bonds payable 950,000 Retained earnings 300,000 Allowance for Doubtful Accounts 9,000 FV-OCI investments 600,000 Inventory 720,000 Accumulated Depreciation-Equipment 120,000 Accounts payable 560,000 Accounts receivable 320,000 Common shares 1,700,000 Accumulated OCI 30,000 Prepaid insurance 20,000 FV-NI investments 180,000 There were no transactions recorded in Allowance for Doubtful Accounts during the year. The company should recognize bad debt expenses for $7,000 at the end of 2019. The company prepaid $20,000 for one-year insurance becoming effective on April 1, 2019. The company purchased the equipment on July 1, 2017, and estimated that the…
WHAT IS THE TOTAL SHAREHOLDERS' EQUITY?
What is the overstatement or understatement in the beginning retained earnings for 2019? 500,000 understatement 200,000 understatement 300,000 overstatement 100,000 overstatement 500,000 overstatement 200,000 overstatement 300,000 understatement 100,000 understatement None of the choices

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS