Changes in Shareholders' Equity On January 1, 2016, the Osgood Film Studios reported the following alphabetical list of shareholders' equity items: Additional paid-in capital on common stock $118,150 Additional paid-in capital on preferred stock 19,200 Common stock, $2 par 55,600 Preferred stock, $100 par 96,000 Retained earnings 236,000 During 2016, the company sold 4,600 shares of common stock for $15 per share and 440 shares of preferred stock for $124 per share. It also earned income of $81,000 and paid dividends of $9 per share on the preferred stock and $1.20 per share on the common stock outstanding at the end of 2016. Required: Prepare Osgood's statement of shareholders' equity (include retained earnings) for 2016. OSGOOD FILM STUDIOS Statement of Shareholders' Equity For Year Ended December 31, 2016 Additional Paid-in Capital on Preferred Stock Additional Paid-in Preferred Common Stock $100 par par Retained Capital Stock $2 on Earnings Total Common Stock

Changes in Shareholders' Equity On January 1, 2016, the Osgood Film Studios reported the following alphabetical list of shareholders' equity items: Additional paid-in capital on common stock $118,150 Additional paid-in capital on preferred stock 19,200 Common stock, $2 par 55,600 Preferred stock, $100 par 96,000 Retained earnings 236,000 During 2016, the company sold 4,600 shares of common stock for $15 per share and 440 shares of preferred stock for $124 per share. It also earned income of $81,000 and paid dividends of $9 per share on the preferred stock and $1.20 per share on the common stock outstanding at the end of 2016. Required: Prepare Osgood's statement of shareholders' equity (include retained earnings) for 2016. OSGOOD FILM STUDIOS Statement of Shareholders' Equity For Year Ended December 31, 2016 Additional Paid-in Capital on Preferred Stock Additional Paid-in Preferred Common Stock $100 par par Retained Capital Stock $2 on Earnings Total Common Stock

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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