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On January 1, the balance of the Retained Earnings account was $37,500. The company's common stock account had an opening balance of $45,000 and new contributions during the year totaled $5,250 . On December 31, at year-end, the Dividends account had a balance of $4,275. The income statement shows net income of $22,500. Prepare a statement of stockholders' equity for A. Miller & Company, architectural design firm. Note: Use a negative sign with your answers for the "Less" amounts.

On January 1, the balance of the Retained Earnings account was $37,500. The company's common stock account had an opening balance of $45,000 and new contributions during the year totaled $5,250 . On December 31, at year-end, the Dividends account had a balance of $4,275. The income statement shows net income of $22,500. Prepare a statement of stockholders' equity for A. Miller & Company, architectural design firm. Note: Use a negative sign with your answers for the "Less" amounts.

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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Statement of Stockholders' Equity On January 1, the balance of the Retained Earnings account was $37,500. The company's common stock account had an opening balance of $45,000 and new contributions during the year totaled $5,250 . On December 31, at year-end, the Dividends account had a balance of $4,275. The income statement shows net income of $22,500. Prepare a statement of stockholders' equity for A. Miller & Company, architectural design firm. Note: Use a negative sign with your answers for the "Less" amounts. A. Miller & Company Statement of Stockholders' Equity For Year Ended December 31 Common Stock Retained Earnings Total Balance, January 1 $ 0 $ 0 $ Add: Common Stock Net income Less: Dividends Balance, December 31 $ 0 $ 0 $
Transcribed Image Text:Statement of Stockholders' Equity On January 1, the balance of the Retained Earnings account was $37,500. The company's common stock account had an opening balance of $45,000 and new contributions during the year totaled $5,250 . On December 31, at year-end, the Dividends account had a balance of $4,275. The income statement shows net income of $22,500. Prepare a statement of stockholders' equity for A. Miller & Company, architectural design firm. Note: Use a negative sign with your answers for the "Less" amounts. A. Miller & Company Statement of Stockholders' Equity For Year Ended December 31 Common Stock Retained Earnings Total Balance, January 1 $ 0 $ 0 $ Add: Common Stock Net income Less: Dividends Balance, December 31 $ 0 $ 0 $
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