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Prepare the statement of stockholders' equity, note that during the year the company issued additional common stock of $10,000. This amount is included in the amount for Common Stock in the adjusted trial balance.

Prepare the statement of stockholders' equity, note that during the year the company issued additional common stock of $10,000. This amount is included in the amount for Common Stock in the adjusted trial balance.

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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Prepare the statement of stockholders' equity, note that during the year the company issued additional common stock of $10,000. This amount is included in the amount for Common Stock in the adjusted trial balance. ORANGE DESIGNS Statement of Stockholders' Equity For the Year Ended December 31, 2021 Total Retained Common Stock Stockholders' Earnings Equity Balance at January 1 $ 15,300 $ 15,300 $ 15,300 Issuance of Common Stock 10,000 10,000 Add: Net Income 10,000 10,000 Less: Dividends 2$ 25,300 $ 25,300 $ 35,300 Balance at December 31 < Required 1 Required 3 >
Transcribed Image Text:Prepare the statement of stockholders' equity, note that during the year the company issued additional common stock of $10,000. This amount is included in the amount for Common Stock in the adjusted trial balance. ORANGE DESIGNS Statement of Stockholders' Equity For the Year Ended December 31, 2021 Total Retained Common Stock Stockholders' Earnings Equity Balance at January 1 $ 15,300 $ 15,300 $ 15,300 Issuance of Common Stock 10,000 10,000 Add: Net Income 10,000 10,000 Less: Dividends 2$ 25,300 $ 25,300 $ 35,300 Balance at December 31 < Required 1 Required 3 >
ORANGE DESIGNS Adjusted Trial Balance December 31, 2021 Accounts Debits Credits $ 5,300 4,300 2,300 6,300 113,000 Cash Accounts Receivable Supplies Prepaid Rent Buildings Accumulated Depreciation Accounts Payable Salaries Payable Utilities Payable Notes Payable (due in four years) $ 21,300 3,300 4,300 1,000 23,000 53,000 15,300 114,100 Common Stock Retained Earnings Service Revenues 42,300 18,300 7,300 8,300 13,300 12,300 2,300 Salaries Expense Rent Expense Depreciation Expense Supplies Expense Advertising Expense Utilities Expense Interest Expense $235,300 $235,300 Totals
Transcribed Image Text:ORANGE DESIGNS Adjusted Trial Balance December 31, 2021 Accounts Debits Credits $ 5,300 4,300 2,300 6,300 113,000 Cash Accounts Receivable Supplies Prepaid Rent Buildings Accumulated Depreciation Accounts Payable Salaries Payable Utilities Payable Notes Payable (due in four years) $ 21,300 3,300 4,300 1,000 23,000 53,000 15,300 114,100 Common Stock Retained Earnings Service Revenues 42,300 18,300 7,300 8,300 13,300 12,300 2,300 Salaries Expense Rent Expense Depreciation Expense Supplies Expense Advertising Expense Utilities Expense Interest Expense $235,300 $235,300 Totals
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