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Preparation of the statement of changes in stockholders' equity The purpose of this exercise is to prepare the statement of changes in stockholders' equity. Based on the following information and on the agreements made by the shareholders of Productos Químicos, S.A., during the 20XY fiscal year, prepare the statement of changes in stockholders' equity. 20XY 20XX Contributed: Capital stock Subscribed capital not displayed 2,175,000 2,000,000 -50,000 -200,000 Contributions for future capital increases 100,000 Earned: Accumulated Utilities 154,725 315,000 Accumulated Losses -76,000 legal Reserve 20,525 15,750 95,500 2,250,250 59,600 2,359,850 Final balances Opening balances The agreements of the partners were the following: 1. Profit for 20XX was transferred to retained earnings. 2. Accumulated losses were amortized. 3. The legal reserve was increased by the legal minimum. 4. 75% of the subscribed capital not exhibited was exhibited 5. The contributions for future capital increases were formalized. 6. The payment of cash dividends for $ 100,000 and $ 75,000 in shares was decreed. 7. The profit for the year 20XY was recorded.

Preparation of the statement of changes in stockholders' equity The purpose of this exercise is to prepare the statement of changes in stockholders' equity. Based on the following information and on the agreements made by the shareholders of Productos Químicos, S.A., during the 20XY fiscal year, prepare the statement of changes in stockholders' equity. 20XY 20XX Contributed: Capital stock Subscribed capital not displayed 2,175,000 2,000,000 -50,000 -200,000 Contributions for future capital increases 100,000 Earned: Accumulated Utilities 154,725 315,000 Accumulated Losses -76,000 legal Reserve 20,525 15,750 95,500 2,250,250 59,600 2,359,850 Final balances Opening balances The agreements of the partners were the following: 1. Profit for 20XX was transferred to retained earnings. 2. Accumulated losses were amortized. 3. The legal reserve was increased by the legal minimum. 4. 75% of the subscribed capital not exhibited was exhibited 5. The contributions for future capital increases were formalized. 6. The payment of cash dividends for $ 100,000 and $ 75,000 in shares was decreed. 7. The profit for the year 20XY was recorded.

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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Preparation of the statement of changes in stockholders' equity The purpose of this exercise is to prepare the statement of changes in stockholders' equity. Based on the following information and on the agreements made by the shareholders of Productos Químicos, S.A., during the 20XY fiscal year, prepare the statement of changes in stockholders' equity. 20XY 20XX Contributed: Capital stock Subscribed capital not displayed 2,175,000 2,000,000 -50,000 -200,000 Contributions for future capital increases 100,000 Earned: Accumulated Utilities 154,725 315,000 Accumulated Losses -76,000 legal Reserve 20,525 15,750 95,500 2,250,250 59,600 2,359,850 Final balances Opening balances The agreements of the partners were the following: 1. Profit for 20XX was transferred to retained earnings. 2. Accumulated losses were amortized. 3. The legal reserve was increased by the legal minimum. 4. 75% of the subscribed capital not exhibited was exhibited 5. The contributions for future capital increases were formalized. 6. The payment of cash dividends for $ 100,000 and $ 75,000 in shares was decreed. 7. The profit for the year 20XY was recorded.
Transcribed Image Text:Preparation of the statement of changes in stockholders' equity The purpose of this exercise is to prepare the statement of changes in stockholders' equity. Based on the following information and on the agreements made by the shareholders of Productos Químicos, S.A., during the 20XY fiscal year, prepare the statement of changes in stockholders' equity. 20XY 20XX Contributed: Capital stock Subscribed capital not displayed 2,175,000 2,000,000 -50,000 -200,000 Contributions for future capital increases 100,000 Earned: Accumulated Utilities 154,725 315,000 Accumulated Losses -76,000 legal Reserve 20,525 15,750 95,500 2,250,250 59,600 2,359,850 Final balances Opening balances The agreements of the partners were the following: 1. Profit for 20XX was transferred to retained earnings. 2. Accumulated losses were amortized. 3. The legal reserve was increased by the legal minimum. 4. 75% of the subscribed capital not exhibited was exhibited 5. The contributions for future capital increases were formalized. 6. The payment of cash dividends for $ 100,000 and $ 75,000 in shares was decreed. 7. The profit for the year 20XY was recorded.
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