10Shareholders' EquityTinman Corporation reports the following balances at the end of the current year: Common Stock, $5 par, $50,000; Retained earnings, $130,000; Additional Paid-inCapital on Common Stock, $200,000; Income Taxes Payable, $9,800; and Accumulated Other Comprehensive Income, $23,000.Prepare the shareholders' equity section of Tinman's year-end balance sheet.Tinman CorporationPartial Balance SheetDecember 31Shareholders' EquityContributed Capital:Common stock, $5 parAdditional paid-in capital on common stockTotal contributed capitalRetained earningsAccumulated other comprehensive incomeTotal Shareholders' EquitySA$tA

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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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10
Shareholders' Equity
Tinman Corporation reports the following balances at the end of the current year: Common Stock, $5 par, $50,000; Retained earnings, $130,000; Additional Paid-in
Capital on Common Stock, $200,000; Income Taxes Payable, $9,800; and Accumulated Other Comprehensive Income, $23,000.
Prepare the shareholders' equity section of Tinman's year-end balance sheet.
Tinman Corporation
Partial Balance Sheet
December 31
Shareholders' Equity
Contributed Capital:
Common stock, $5 par
Additional paid-in capital on common stock
Total contributed capital
Retained earnings
Accumulated other comprehensive income
Total Shareholders' Equity
SA
$
tA

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Step 1

We have to prepare the shareholder equity section by adding the amount of common stock with additional paid-in capital on common stock then we will get the total contributed capital then we will add retained earnings with accumulated other comprehensive income then we get total shareholders Equity.

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