At the beginning of the year (January 1), William and Sons had $19,700 of common stock outstanding and retained earnings of $2,100. During the year, the company reports net income of $2,430 and pays dividends of $920. In addition, the company issues additional common stock for $7,400. Prepare the statement of stockholders' equity for the year ended December 31. Balance at January 1 Issuance of Common Stock WILLIAM AND SONS Statement of Stockholders' Equity For the year ended December 31 Add: Net Income for the Year Less: Dividends Balance at December 31 Common Stock $ $ Retained Earnings 19,700 S 7,400 27,100 $ 2,100 2,430 Total Stockholders Equity 4,530 $ 920 (920)
At the beginning of the year (January 1), William and Sons had $19,700 of common stock outstanding and retained earnings of $2,100. During the year, the company reports net income of $2,430 and pays dividends of $920. In addition, the company issues additional common stock for $7,400. Prepare the statement of stockholders' equity for the year ended December 31. Balance at January 1 Issuance of Common Stock WILLIAM AND SONS Statement of Stockholders' Equity For the year ended December 31 Add: Net Income for the Year Less: Dividends Balance at December 31 Common Stock $ $ Retained Earnings 19,700 S 7,400 27,100 $ 2,100 2,430 Total Stockholders Equity 4,530 $ 920 (920)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:At the beginning of the year (January 1), William and Sons had $19,700 of common stock outstanding and retained earnings of $2,100.
During the year, the company reports net income of $2,430 and pays dividends of $920. In addition, the company issues additional
common stock for $7,400.
Prepare the statement of stockholders' equity for the year ended December 31.
Balance at January 1
Issuance of Common Stock
WILLIAM AND SONS
Statement of Stockholders' Equity
For the year ended December 31
Add: Net Income for the Year
Less: Dividends
Balance at December 31
Common Retained
Stock
Earnings
$ 19,700 S
7,400
2,100
2,430
Total
Stockholders'
Equity
$ 27,100 $ 4,530 $
920
(920)
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