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Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of $580 were declared at the end of the year, and 580 additional shares of common stock ($0.10 par value per share) were issued at the end of the year for $2,320 in cash (for a total at the end of the year of 810 shares). These effects are included below:   The adjusted trial balance is in the pictures as is the format for the answer.

Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of $580 were declared at the end of the year, and 580 additional shares of common stock ($0.10 par value per share) were issued at the end of the year for $2,320 in cash (for a total at the end of the year of 810 shares). These effects are included below:   The adjusted trial balance is in the pictures as is the format for the answer.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of $580 were declared at the end of the year, and 580 additional shares of common stock ($0.10 par value per share) were issued at the end of the year for $2,320 in cash (for a total at the end of the year of 810 shares). These effects are included below:

 

The adjusted trial balance is in the pictures as is the format for the answer. 

CATENA'S MARKETING COMPANY Statement of Stockholders' Equity For the current year Common Stock Total Stockholders' Equity Additional Retained Paid-in Capital Earnings Balance, January 1 Share issuance $ 23 58 Net income Dividends declared Balance, December 31
Transcribed Image Text:CATENA'S MARKETING COMPANY Statement of Stockholders' Equity For the current year Common Stock Total Stockholders' Equity Additional Retained Paid-in Capital Earnings Balance, January 1 Share issuance $ 23 58 Net income Dividends declared Balance, December 31
Catena's Marketing Company Adjusted Trial Balance End of the Current Year Debit $ 1,570 2,260 Credit Cash Accounts receivable Interest receivable 170 Prepaid insurance Long-term notes receivable Equipment Accumulated depreciation Accounts payable Dividends payable Accrued expenses payable Income taxes payable 1,790 2,830 15,400 $ 2,830 2,390 580 3,860 2,530 Unearned rent revenue 370 Common Stock (810 shares) Additional paid-in capital Retained earnings 81 3,469 3,920 36,650 Sales revenue Interest revenue 110 Rent revenue 670 Wages expense Depreciation expense Utilities expense 18,200 1,710 400 Insurance expense 770 Rent expense 9,600 2,760 Income tax expense Total $ 57,460 $57,460
Transcribed Image Text:Catena's Marketing Company Adjusted Trial Balance End of the Current Year Debit $ 1,570 2,260 Credit Cash Accounts receivable Interest receivable 170 Prepaid insurance Long-term notes receivable Equipment Accumulated depreciation Accounts payable Dividends payable Accrued expenses payable Income taxes payable 1,790 2,830 15,400 $ 2,830 2,390 580 3,860 2,530 Unearned rent revenue 370 Common Stock (810 shares) Additional paid-in capital Retained earnings 81 3,469 3,920 36,650 Sales revenue Interest revenue 110 Rent revenue 670 Wages expense Depreciation expense Utilities expense 18,200 1,710 400 Insurance expense 770 Rent expense 9,600 2,760 Income tax expense Total $ 57,460 $57,460
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