118218Incubus Corporation began with an Investment by shareholders of $33,000.a. In its first year, its income showed a deficit of $6,300. What would the equity section of its balance sheet show at year end?(Negative answers should be indicated by a minus sign. Omit $ sign in your response.)Common stockRetained earningsTotal Stockholders' EquityCommon stockRetained earningsb. In the second year, it had an income of $16,700 and a dividend of $5,300 was paid. What would the equity section of its balancesheet show at year end?Total Stockholders' Equity$Common stockRetained earnings$Total Stockholders' Equity$c. In the third year, Incubus sold more shares for a value of $16,500, earned income of $11,300, and paid a dividend of $5,300. Whatwould the equity section of its balance sheet show at year end?$$$

STATEMENT OF SHAREHOLDERS EQUITYStatement of Shareholders Equity is also known as Changes in…

Incubus Corporation began with an investment by shareholders of $33,000. a. In its first year, its income showed a deficit of $6,300. What would the equity section of its balance sheet show at year end? (Negative answers should be indicated by a minus sign. Omit $ sign in your response.) Common stock Retained earnings Total Stockholders' Equity b. In the second year, it had an income of $16,700 and a dividend of $5,300 was paid. What would the equity section of its balance sheet show at year end? Common stock Retained earnings. Total Stockholders' Equity $ Common stock Retained earnings Total Stockholders' Equity $ c. In the third year, Incubus sold more shares for a value of $16,500, earned income of $11,300, and paid a dividend of $5,300. What would the equity section of its balance sheet show at year end?

Incubus Corporation began with an investment by shareholders of $33,000. a. In its first year, its income showed a deficit of $6,300. What would the equity section of its balance sheet show at year end? (Negative answers should be indicated by a minus sign. Omit $ sign in your response.) Common stock Retained earnings Total Stockholders' Equity b. In the second year, it had an income of $16,700 and a dividend of $5,300 was paid. What would the equity section of its balance sheet show at year end? Common stock Retained earnings. Total Stockholders' Equity $ Common stock Retained earnings Total Stockholders' Equity $ c. In the third year, Incubus sold more shares for a value of $16,500, earned income of $11,300, and paid a dividend of $5,300. What would the equity section of its balance sheet show at year end?

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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