Hi I had this Question answered but I don’t understand where they got the $300 balance in common stock. Can you explain that for me Net Income35,000Step 2Answer:FIGHTIN' BLUE HENS CORPORATIONStatement of Stockholders' Equityfor the year ended December 31, 2021TotalCommonRetainedParticularsShareholders'StockEarningsEquityBalance at January 1300,000 $60,000 S360,000add: Net Income2$35,000 $35,000Balance at December 31300,000 S95,000395,000Was this solution helpful?APR27WescF2F3F4F6#3%244.WR [The following information applies to the questions displayed below.]The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented beAccountSDebitCreditCash12,000150,0006,00030,000400,000Accounts ReceivablePrepaid RentSuppliesEquipmentAccumulated DepreciationAccounts PayableSalaries PayableInterest PayableNotes Payable (due in two years)$ 135,00012,00011,0005,00040,000300,00060,000500,000Common StockRetained EarningsService RevenueSalaries ExpenseRent ExpenseDepreciation ExpenseInterest Expense400,00020,00040,0005,000Totals$1,063,000$1,063,0002. Prepare a statement of stockholders' equity for the year ended December 31, 2021, assuming no common st2021.< Prev4of 4Next >APR27WF2F3F4F5F6F7

Statement of shareholders equity is an section in the balance sheet of the business which shows all…

Answered: Hi I had this Question answered but I…

Hi I had this Question answered but I don’t understand where they got the $300 balance in common stock. Can you explain that for me

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: You found a bunch of printed shares of a corporation whose shares are traded in Borsa İstanbul at…

A: The process of converting physical securities, such as paper share certificates into electronic form…

Q: If you are to start your own business as a sole trader where will you get your source of funds?

A: Sole trader is a person who is responsible for its business success and failure. He is the person…

Q: ? Do you think the answers you provide are common to all investors or unique to your own strategies?

A: In investment through stock is quite risky and difficult but good money can be earned through…

Q: ancing activity esting activity erating activity

A: Cashflow statement shows the flow of cash transactions. It shows the inflow and outflow of cashflow.

Q: Newly formed S&J Iron Corporation has 53,000 shares of $3 par common stock authorized. On March 1,…

A: calculation of above requirement are as follows

Q: Based on this topic reading answer the following questions in your discussion post. (Note address…

A: 1. The major recommendations of the stock compensation pronouncement are top five officers of…

Q: What is the public stock market? Does the Company, such as Disney, own the stock? expalin one small…

A: The stock market that exist for issuing, buying and selling stocks that trade on exchange is called…

Q: DIFFERENCE BETWEEN DIVIDENDS PAYABLE AND DIVIDENDS DECLARED 1) Pleaes tell me the difference between…

A: Dividends payable and declared are the same. Both refer to the dividends which are declared by the…

Q: What is the difference between financing a corporation with debt vs equity Provide an example of…

A: There are different sources of finance that a corporation can use for its business purpose when it…

Q: There are three accounting methods that are used to record stock investments. What are they? List…

A: When you buy a share of a company's stock, you are buying a little piece of the company. Stock is an…

Q: Q3. What is a stock exchange? How does it help investors?

A: Given information stock market and how it helps investors will be discussed detailed in step 2

Q: I have a couple of questions that are related. Please answer thoroughly. Thanks!1) Are all accounts…

A: This part of the financial statement is a report of financial activity during a particular time…

Q: How would the Dividends account compare with the Cash account in terms of classification in the…

A: A ledger is a book used to record or keep track of the financial transactions of a business. It…

Q: Can you explain to me as much as you can about: What were the causes of Financial crisis that…

A: The subprime mortgage crisis that took place in 2007-2008 was called a financial crisis of…

Q: WHY DOES BANKS, TRUST COMPANIES, INSURANCE COMPANIES, PUBLIC UTILITIES, AND BUILDING AND LOAN…

A: Par value represents the actual value of the share. If the shares are not issued on discount or…

Q: 7. My brother prefers to buy a stock that pays him a from the company's earnings.

A: my brother prefer to buy a stock that pays him a dividend from the company's earnings.

Q: Which of the following statement is true about "Cumulative Stock Dividends in Arrears? Select all…

A: Cumulative stock dividend in arrears is dividend payable but not yet paid to preferred stock…

Q: If you were investing in the stock market today, how would your decisions be affected based on what…

A: Stock- It is a unit of ownership in a company's capital. It entitles the stockholder to an equal…

Q: Mr. Wonder purchased a machine amounting to P7,000,000 on January 1, 2013 providing the newest kind…

A: Step 1 Noncurrent assets held for sale are those assets if they are held for immediate sale in a…

Q: The corporate charter of Cullumber Corporation allows the issuance of a maximum of 4,300,000 shares…

A: In case of multiple subparts, we are allowed to solve only the first three subparts. If you want…

Q: Required information [The following information applies to the questions displayed below.) Donnie…

A: The dividend is declared to the shareholders from the retained earnings of the business. The…

Q: (EPS, Antidilution) Brad Dolan, a stockholder of Rhode Corporation, has asked you, the firm’s…

A: Earnings per share is an amount available as earnings for each of the common shares outstanding for…

Q: Juno Corporation's stockholders' equity section at December 31, 2019 appears below: Stockholder's…

A: No Journal entry would be required for the stock split transactions.

Q: From an accounting standpoint, isn't treasury stock just a regular equity account with a normal…

A: The treasury shares are the own shares of the company which are purchased from the shareholders.

Q: 1. What kind of information give us the selected financial statistics shown on page 1 of the…

A: Financial statistics are defined as the statistics, which includes the numerical data that basically…

Q: Q1. Mays bought McCovey Corp. common stock in an offering registered under the Securities Act of…

A: Hi student Since there are multiple questions, we will answer only first question. If you want…

Q: Hint: Normal Balance means does a debit or credit INCREASE the account. Account Type Account Name…

A: All Assets and All Expenses has debit balances. On the other hand all liabilities and incomes has…

Q: O'Donnell Motor Parts issued 120,000 stock options to its employees. The company granted the stock…

A: According to the question given, we need to prepare the journal entries to record the issuance of…

Q: How can I know what type of account the Dividends account is?

A: Dividend is the amount of return that the shareholders of a company receive from the profits.

Q: The accounting equation for a corporation is Total Assets = Liabilities + Stockholders’ Equity.…

A: Assets, liabilities, and stockholder's equity are part of the balance sheet of a company. The…

Q: Under the equity method of accounting for investments, which of the following statements is true? a)…

A: The correct answer is d) The investor has significant influence over the investee.Explanation:Under…

Q: In the queston you didn't answer the ones for August 3, could you do it and use formulas for the one…

A: Let's start with the Jan. 31 transaction : Note : Since, No information about cells' rows and…

Q: This is for the impact on equity not for the table with the blanks above ^ ( Stockholders Equity of…

Q: The Loss on Disposal of Equity Investments is reported in the losses section of the statement of…

A: Income statement is the financial statement that records all the income and expenses of the…

Q: 54) Which of the following is an electronic marketplace for buying and selling global stocks and…

A: Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: From pages 10-2 and 10-3 of the VLN, when a corporation goes to the stock market and buys the…

A: Treasury stock is the stock recorded at the cost price in books when company buys its own shares…

Q: How do people get money out of the stockmarket?

A: The stock market may be a place where regular activities like buying, selling, and shares are issued…

Q: For the transaction of the purchase of common stock, why are we debiting cash and crediting the…

A: The Total Stockholders Equity is the value of the total capital/equity of the owners of the entity.…

Question

Hi I had this Question answered but I don’t understand where they got the $300 balance in common stock. Can you explain that for me

Net Income
35,000
Step 2
Answer:
FIGHTIN' BLUE HENS CORPORATION
Statement of Stockholders' Equity
for the year ended December 31, 2021
Total
Common
Retained
Particulars
Shareholders'
Stock
Earnings
Equity
Balance at January 1
300,000 $
60,000 S
360,000
add: Net Income
2$
35,000 $
35,000
Balance at December 31
300,000 S
95,000
395,000
Was this solution helpful?
APR
27
W
esc
F2
F3
F4
F6
#3
%24
4.
W
R

[The following information applies to the questions displayed below.]
The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented be
AccountS
Debit
Credit
Cash
12,000
150,000
6,000
30,000
400,000
Accounts Receivable
Prepaid Rent
Supplies
Equipment
Accumulated Depreciation
Accounts Payable
Salaries Payable
Interest Payable
Notes Payable (due in two years)
$ 135,000
12,000
11,000
5,000
40,000
300,000
60,000
500,000
Common Stock
Retained Earnings
Service Revenue
Salaries Expense
Rent Expense
Depreciation Expense
Interest Expense
400,000
20,000
40,000
5,000
Totals
$1,063,000
$1,063,000
2. Prepare a statement of stockholders' equity for the year ended December 31, 2021, assuming no common st
2021.
< Prev
4
of 4
Next >
APR
27
W
F2
F3
F4
F5
F6
F7

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

A company must decide between scrapping or reworking units that do not pass Inspection. The company has 10,000 defective units that have already cost $132,000 to manufacture. The units can be sold as scrap for $31,000 or reworked for $45,000 and then sold for $85,000. (a) Prepare a scrap or rework analysis of Income effects. (b) Should the company sell the units as scrap or rework them? (a) Scrap or Rework Analysis Revenue from scrapped/reworked units Cost of reworked units Income Incremental income (b) The company should: Scrap Rework
Subject :- Accounting
When preparing the balance sheet, the only two stockholders' equity accounts thus far in the class are coming from Multiple Choice the unadjusted trial balance. the t accounts. investments made directly by the shareholders. the statement of stockholders' equity. G Sty
Mr. Carlos Small is an entrepreneur who has done very well in business and would like to become an investor on the Jam Love Stock Exchange. Mr Small has never invested on a stock exchange before and is not knowledgeable of how it is operated and its functions. He has watched the Financial Report on Television Jamaica for many years and is familiar with a few terms such as liquidity, stock advancing, stock declining and stock trading firm but he does not know what they mean and how to read and understand the stock market reports that are published in the major newspapers in the country. Mr. Small was encouraged to speak with a stock broker at VLC Investment Company. Mr. Smith took the advised and visited VLC Investment Company where he met Mr. Peter Brown a stock broker, who answered all is queries and concerns. Mr. Peter Brown used a stock market report to illustrate the following: Jam Love Stock Exchange Security Volume Value This Period's Change Close Closing Closing Traded Traded…
People who own stock are called STOCKHOLDERS, and they ______________________ must be paid dividends. hope to be paid dividends. must be paid interest. hope to be paid interest
Maya company has seen slow but steady growth over the past 10 years. Maya company started small, and all of the employees were family members. However, the business is now big enough that it is important to start setting up a more sophisticated internal control structure, including segregation of duties. What are the three specific functions that must be kept separate?
(short answer) If you were the Chief Financial Officer of a public company that was issuing new common stock, which type of underwiring would you prefer, and why?
Can you help me fill out the chart?
3. Why don't corporations pay dividends on shares of treasury stock?
Q2. Who are the different dealers in the stock exchange?
Which of the following is not a typical question that must be answered with regard to a private company that is owned by a large number of shareholders? Question 46 options: How and when does the company get money from the sale of its stock? What rate of return does the company promise to pay when it sells stock? What is the dividend yield on preferred shares of companies that hold this stock? Who makes decisions in a company owned by a large number of shareholders?
Should a company's chief financial officer own a large amount of common stock in the company? What are the pros and cons? Explain and for example in Vietnam.