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Make a statement of stockholders equity in good form.

Make a statement of stockholders equity in good form.

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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Make a statement of stockholders equity in good form.

M Inbox (2,14 x M Fw: Tyler Tr X o Moodle (9) One of x Course ID: C Get Homew x E Interview CX Stg Cognizant O (9) Momen x a Amazon.co x Photos - Screenshot (452).png Photos - Screenshot (453) png A See all photos + Add to N See all photos + Add to A B G H C I really really love Accouting D F C6 fr This is worth a maximum of 75 pts 10 Company Name 11 As of October 1, 2021 A B C D E F G H 12 44 Advertising Expense 45 Preferred Stock 46 Credit Card Expense 47 Sales Discount 48 Supplies Expense 49 Accumulated Comprehensive Income 50 Amortization Expense (First year on Patent) 51 Insurance Expense 52 Rental Revenue 53 Interest Expense 54 Dues Expense 55 Uneamed Revenues 56 Prepaid Insurance - Current 57 Auto Expense 7,500 13 Debit Credits 40,000 14 42.000 15 Cash 16 Short term Investment 17 Accounts Receivable 18 Allowance for Doubtful Accounts 19 Additional Paid in Capital - Preferred 20 Inventory 21 Automobiles 22 Buildings 23 Land 24 Equipment 25 Accumulated Dep - Building 26 Accumulated Dep - Equipment 27 Accumulated Dep - Automobiles 28 Patent 29 Sales 30 Sales Returns 31 Non Controlling Interest 32 Cost of Goods Sold 33 Accounts Payable 34 Wages Payable 35 Long-Term Note 36 Retained Eamings, Beginning 37 Common Stock 38 Adcitional Paid in Capital- Common 39 Treasury Stock 40 Wage Expense 41 Rent Expense 42 Utilities Expense 43 Employee Benefit Expense 44 Advertising Expense 45 Preferred Stock 46 Credit Card Expanse 60.000 3,100 22,300 5.400 95,000 6,000 4,800 16,000 500 5,800 165,000 5,000 32,000 2,750 425,000 7,000 5,400 250,000 7,000 8,200 115,000 261,000 58 Interest Income 1,200 75,000 59 Good Will 60 Additional Paid in Capital - Treasury 142,000 19,000 1,900 3,000 61 375,000 62 Totals 1,623,550 1,623,550 5.000 63 3,500 64 150,000 65 Important Notes 52,000 66 13,000 67 1. The income tax rate is 08% 68 2. $22,000 of the long-term note payable is due in the current year 69 3. The investment account is considered short-term in nature 70 4. At this point no taxes have been accrued 71 5.When I made this I linked my spreadsheet so you may have some small rounding 72 6. List the expenses in order of magnitude (biggest first) 73 7. A cash dividend for $17,000 was declared on 9-29-2021 to be paid 9-30-2021 74 8. The company uses the LIFO inventory method 75 9. Based on the Accounts receivble aging method the allowance should be 9,000 76 10. Annual Depreciation has not been recorded it should be a follows 77 Building 78 Equipment 79 Automobile 200,000 284,000 233,750 27,000 4,000 41,000 12.000 8,000 5,000 7,500 18,000 40,000 11,500 42,000 4,000 80 3:06 PM P Type here to search E 82°F 9/9/2021
Transcribed Image Text:M Inbox (2,14 x M Fw: Tyler Tr X o Moodle (9) One of x Course ID: C Get Homew x E Interview CX Stg Cognizant O (9) Momen x a Amazon.co x Photos - Screenshot (452).png Photos - Screenshot (453) png A See all photos + Add to N See all photos + Add to A B G H C I really really love Accouting D F C6 fr This is worth a maximum of 75 pts 10 Company Name 11 As of October 1, 2021 A B C D E F G H 12 44 Advertising Expense 45 Preferred Stock 46 Credit Card Expense 47 Sales Discount 48 Supplies Expense 49 Accumulated Comprehensive Income 50 Amortization Expense (First year on Patent) 51 Insurance Expense 52 Rental Revenue 53 Interest Expense 54 Dues Expense 55 Uneamed Revenues 56 Prepaid Insurance - Current 57 Auto Expense 7,500 13 Debit Credits 40,000 14 42.000 15 Cash 16 Short term Investment 17 Accounts Receivable 18 Allowance for Doubtful Accounts 19 Additional Paid in Capital - Preferred 20 Inventory 21 Automobiles 22 Buildings 23 Land 24 Equipment 25 Accumulated Dep - Building 26 Accumulated Dep - Equipment 27 Accumulated Dep - Automobiles 28 Patent 29 Sales 30 Sales Returns 31 Non Controlling Interest 32 Cost of Goods Sold 33 Accounts Payable 34 Wages Payable 35 Long-Term Note 36 Retained Eamings, Beginning 37 Common Stock 38 Adcitional Paid in Capital- Common 39 Treasury Stock 40 Wage Expense 41 Rent Expense 42 Utilities Expense 43 Employee Benefit Expense 44 Advertising Expense 45 Preferred Stock 46 Credit Card Expanse 60.000 3,100 22,300 5.400 95,000 6,000 4,800 16,000 500 5,800 165,000 5,000 32,000 2,750 425,000 7,000 5,400 250,000 7,000 8,200 115,000 261,000 58 Interest Income 1,200 75,000 59 Good Will 60 Additional Paid in Capital - Treasury 142,000 19,000 1,900 3,000 61 375,000 62 Totals 1,623,550 1,623,550 5.000 63 3,500 64 150,000 65 Important Notes 52,000 66 13,000 67 1. The income tax rate is 08% 68 2. $22,000 of the long-term note payable is due in the current year 69 3. The investment account is considered short-term in nature 70 4. At this point no taxes have been accrued 71 5.When I made this I linked my spreadsheet so you may have some small rounding 72 6. List the expenses in order of magnitude (biggest first) 73 7. A cash dividend for $17,000 was declared on 9-29-2021 to be paid 9-30-2021 74 8. The company uses the LIFO inventory method 75 9. Based on the Accounts receivble aging method the allowance should be 9,000 76 10. Annual Depreciation has not been recorded it should be a follows 77 Building 78 Equipment 79 Automobile 200,000 284,000 233,750 27,000 4,000 41,000 12.000 8,000 5,000 7,500 18,000 40,000 11,500 42,000 4,000 80 3:06 PM P Type here to search E 82°F 9/9/2021
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