### Reporting Changes in Stockholders' Equity ItemsOn May 1, 2016, Ryde Inc. had common stock of $345,000, additional paid-in capital of $1,298,000, and retained earnings of $3,013,000. Ryde did not purchase or sell any common stock during the year. The company reported net income of $556,000 and declared dividends in the amount of $78,000 during the year ended April 30, 2017.### Required:Prepare a financial statement that explains the differences between the beginning and ending balances for the accounts in the Stockholders' Equity category of the balance sheet. If an amount is zero, enter "0".---#### Ryde Inc.### Statement of Stockholders' Equity #### For the Year Ended April 30, 2017| | Common Stock | Additional Paid-In Capital | Retained Earnings | Total Stockholders' Equity ||-------------------|------------------|---------------------------|-------------------|----------------------------|| **Balance, May 1, 2016** | $345,000 | $1,298,000 | $3,013,000 | $ || **Net Income** | $0 | $0 | $556,000 | $ || **Dividends** | $0 | $0 | $(78,000) | $ || **Balance, April 30, 2017** | $ | $ | $ | $ |---### Explanation:This Statement of Stockholders' Equity displays the various components of stockholders' equity and the changes that transpired over the fiscal year ending April 30, 2017. - **Common Stock**: The value of common stock remained the same throughout the period as there were no purchases or sales of common stock.- **Additional Paid-In Capital**: There were no changes to the additional paid-in capital during this period.- **Retained Earnings**: The retained earnings account increased by $556,000 due to net income generated during the year and decreased by $78,000 due to dividends declared.- **Total Stockholders' Equity**: This column sums up the contributions from common stock, additional paid-in capital, and retained earnings.By observing these changes, one can better understand the financial activities and profitability of Ryde Inc. over the specified

Shareholders equity means total amount attributable to the shareholders of the company. It includes…

Reporting Changes in Stockholders' Equity Items On May 1, 2016, Ryde Inc. had common stock of $345,000, additional paid-in capital of $1,298,000, and retained earnings of $3,013,000. Ryde did not purchase or sell any common stock during the year. The company reported net income of $556,000 and declared dividends in the amount of $78,000 during the year ended April 30, 2017. Required: Prepare a financial statement that explains the differences between the beginning and ending balances for the accounts in the Stockholders' Equity category of the balance sheet. If an amount zero, enter "0". Ryde Inc. Statement of Stockholders' Equity For the Year Ended April 30, 2017 Common Stock Additional Paid-In Capital Retained Earnings Total Stockholders' Equity Balance, May ,2016 Net income Dividends Balance, April 30, 2017

Reporting Changes in Stockholders' Equity Items On May 1, 2016, Ryde Inc. had common stock of $345,000, additional paid-in capital of $1,298,000, and retained earnings of $3,013,000. Ryde did not purchase or sell any common stock during the year. The company reported net income of $556,000 and declared dividends in the amount of $78,000 during the year ended April 30, 2017. Required: Prepare a financial statement that explains the differences between the beginning and ending balances for the accounts in the Stockholders' Equity category of the balance sheet. If an amount zero, enter "0". Ryde Inc. Statement of Stockholders' Equity For the Year Ended April 30, 2017 Common Stock Additional Paid-In Capital Retained Earnings Total Stockholders' Equity Balance, May ,2016 Net income Dividends Balance, April 30, 2017

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

None
In 2017 Pedroni Corporation reported net income of $1,000,000. It declared and paid preferred stock a dividend of $250,000. During 2017, Pedroni had a weighted average of 190,000 shares outstanding. Compute Pedroni's Earnings Per Share.
A grocery store bought a generator set for P100,000. Other expenses including installation amounted to P15,000. The generator set is to have a life of 20 years with a salvage value at the end of life of P5,000. Determine the depreciation charge during the 13th year and the book value at the end of 13 years by the (a) double declining balance method (b) SYD method.
Statement of stockholders' equityScott Lockhart owns and operates AAA Delivery Services. On January 1,20Y7, Common Stock had a balance of $40,000, and Retained Earningshad a balance of $815,500. During the year, no additional common stock was issued, and $10,000 of dividends were paid. For the year endedDecember 31, 2017, AAA Delivery reported a net income of $67,250.Prepare a statement of stockholders' equity for the year endedDecember 31, 20Y7.
The equity section of Atticus Group’s 2017 year-end balance sheet had 200,000 shares of $4 par value common stock authorized. Of this amount, 40,000 shares were issued and outstanding in one offering in which the stock was sold at $7 per share. Retained earnings had a balance of $320,000. The following transactions and events occurred in 2018. Jan. 5 Declared a $0.50 per share cash dividend, date of record January 10, to be paid February 10. Mar. 20 Purchased 3,000 shares of treasury stock for $10 per share. Apr. 5 Declared a 20% stock dividend when the stock’s market value was $12 per share. The dividend is to be distributed on April 30 to stockholders of record on April 10. Jul. 5 Declared a $0.25 per share cash dividend, date of record July 10, to be paid August 10. Aug. 14 Issued 4,000 shares at $15 per share. Oct. 5 Declared and distributed a 2-for-1 stock split. Dec. 31 Atticus recorded net income of $248,000 in 2018. 1.What is total paid-in capital one…
Balance Sheet Jack and Jill Corporation's year-end 2009 balance sheet lists current assets of $257,000, fixed assets of $807,000, current liabilities of $188,000, and long-term debt of $293,000. What is Jack and Jill's total stockholders' equity? Multple Cholce $583.000 $1,064,000 $481,000 There Is not enough Information to calculate total stockholder's equity. Prev 1 of 8 Score answer> 9:43 AM 42°F Mostly sunny ype here to search 11/5/2021 21 DELL
On its Form 10-K for the year ended December 31, 2016, Ameri Bank Corp. reported information related to basic earnings per share.Fill in the missing information. Rounding instruction: Round answer a. to two decimal places.Round answer b., c., & d. to the nearest million.Round answer e. to three decimal places. $ millions, except per share amounts 2015 2014 2013 Net income $17,287 $4,833 d. Answer Preferred stock dividends $1,483 b. Answer $1,349 Net income applicable to common shareholders $15,804 c. Answer $9,993 Average common shares outstanding 10,462.282 10,527.818 e. Answer Basic earnings per share a. Answer $0.34 $0.94
Statement of stockholders' equity Brenda Tooley owns and operates Speedy Delivery Services. On January 1, 2017, Common Stock had a balance of $30,000, and Retained Earnings had a balance of $812,000. During the year, $16,000 of additional common stock was issued, and $15,000 of dividends were paid. For the year ended December 31, 2017, Speedy Delivery reported a net income of $68,750. Prepare a statement of stockholders' equity for the year ended December 31, 20Y7. If a net loss is incurred or dividends were paid, enter that amount as a negative number using a minus sign. If an amount box does not require an entry, leave it blank. Speedy Delivery Services Statement of Stockholders' Equity For the Year Ended December 31, 20Y7 Line Item Description Common Stock Retained Earnings Total
a. Fill in the amounts for the Norfolk Southern statement of changes in retained earnings. Note: Use negative signs with your answers, when appropriate. Norfolk Southern Inc. Consolidated Statements of Changes in Retained Income Beginning Balance at Dec. 31, 2015 $16,306 Net income Answer Dividends on Common Stock (1,112) Share repurchases (1,170) Other (13) Ending Balance at Dec. 31, 2016 16,680 Net income 8,646 Dividends on Common Stock Answer Share repurchases (1,512) Other (8) Ending Balance at Dec. 31, 2017 22,682 Net income 4,266 Dividends on Common Stock (1,350) Share repurchases Answer Other 130 Ending Balance at Dec. 31, 2018 $21,504 b. Is it true (or false) that Norfolk Southern purchased its own shares back during each year from 2016 to 2018?Answer
The balance sheets of Burrows Company at the end of each of the first two years of operations indicate the following: 2017 2016. Total current assets P600,000 P560,000 Total property, plant and equipment 960,000 740,000 Total current liabilities 150,000 80,000 Total long-term liabilities 350,000 250,000 Preferred 9% stock, P100 par 100,000 100,000 Common stock, P10 par 600,000 600,000 Paid-in capital in excess of par-common stock 60,000 60,000 Retained earnings 300,000 210,000 The net income is P150,000 and interest expense is P30,000 for 2017. And the current market price of the share is P22.20 in 2017, and P21.25 in 2016. What is the earning per share ratio for 2017?
On its Form 10-K for the year ended December 31, 2018, Bank of America Corp. reported information related to basic earnings per share.Fill in the missing information. Rounding instruction: Round answer a. to two decimal places.Round answer b., c., & d. to the nearest million.Round answer e. to one decimal place. $ millions, except per share amounts 2018 2017 2016 Net income $28,147 $18,232 d. Answer Preferred stock dividends 1,451 b. Answer $1,682 Net income applicable to common shareholders 26,696 c. Answer $16,140 Average common shares outstanding 10,096.5 10,195.6 e. Answer Basic earnings per share a. Answer $1.63 $1.57
At the beginning of 2017, Vincia Hill Industries had 25,000 shares of common stock issued and outstanding and 500 $1,000, 6% bonds, each convertible into 10 shares of common stock. During 2017, Vincia Hill had revenues of $160,000 and expenses other than interest and taxes of $100,000. Assume that the tax rate is 35%. None of the bonds was converted or redeemed. 1. Compute diluted earnings per share for 2017