Required information [The following information applies to the questions displayed below.] Mark's Consulting experienced the following transactions for 2018, its first year of operations, and 2019. Assume that all transactions involve the receipt or payment of cash. Transactions for 2018 1. Acquired $85,000 by issuing common stock. 2. Received $135,000 cash for providing services to customers. 3. Borrowed $22,000 cash from creditors. 4. Paid expenses amounting to $53,000. 5. Purchased land for $35,000 cash.

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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SE 2018
SE 2019
Prepare a statement of changes in stockholders' equity for the year 2018.
MARK'S CONSULTING
Statement of Changes in Stockholders' Equity
For the Year Ended December 31, 2018
Beginning common stock
Ending common stock
$
Beginning retained earnings
Ending retained earnings
Total stockholders' equity
$
< SE 2018
SE 2019
>
Transcribed Image Text:Complete this question by entering your answers in the tabs below. SE 2018 SE 2019 Prepare a statement of changes in stockholders' equity for the year 2018. MARK'S CONSULTING Statement of Changes in Stockholders' Equity For the Year Ended December 31, 2018 Beginning common stock Ending common stock $ Beginning retained earnings Ending retained earnings Total stockholders' equity $ < SE 2018 SE 2019 >
Required information
[The following information applies to the questions displayed below.]
Mark's Consulting experienced the following transactions for 2018, its first year of operations, and 2019. Assume that all
transactions involve the receipt or payment of cash.
Transactions for 2018
1. Acquired $85,000 by issuing common stock.
2. Received $135,000 cash for providing services to customers.
3. Borrowed $22,000 cash from creditors.
4. Paid expenses amounting to $53,000.
5. Purchased land for $35,000 cash.
Transactions for 2019
Beginning account balances for 2019 are:
$154,000
35,000
22,000
85,000
82,000
Cash
Land
Notes payable
Common stock
Retained earnings
1. Acquired an additional $27,000 from the issue of common stock.
2. Received $137,000 for providing services.
3. Paid $17,000 to creditors to reduce loan.
4. Paid expenses amounting to $68,000.
5. Paid a $11,500 dividend to the stockholders.
6. Determined that the market value of the land is $45,000.
b-2. Prepare a statement of changes in stockholders' equity for each year accounting period.
Transcribed Image Text:Required information [The following information applies to the questions displayed below.] Mark's Consulting experienced the following transactions for 2018, its first year of operations, and 2019. Assume that all transactions involve the receipt or payment of cash. Transactions for 2018 1. Acquired $85,000 by issuing common stock. 2. Received $135,000 cash for providing services to customers. 3. Borrowed $22,000 cash from creditors. 4. Paid expenses amounting to $53,000. 5. Purchased land for $35,000 cash. Transactions for 2019 Beginning account balances for 2019 are: $154,000 35,000 22,000 85,000 82,000 Cash Land Notes payable Common stock Retained earnings 1. Acquired an additional $27,000 from the issue of common stock. 2. Received $137,000 for providing services. 3. Paid $17,000 to creditors to reduce loan. 4. Paid expenses amounting to $68,000. 5. Paid a $11,500 dividend to the stockholders. 6. Determined that the market value of the land is $45,000. b-2. Prepare a statement of changes in stockholders' equity for each year accounting period.
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