Statement of Stockholders' EquityYou have been asked to assist with the preparation of a statement of stockholders' equity for Minimus Company for the year ended December 31, 2019. You determine the following balances:Common Stock at December 31, 2018Retained Earnings at December 31, 2018Net Income during 2019Dividends during 2019Issuance of Common Stock during 2019$10,0007,5006,000900600RequiredPrepare a statement of stockholders' equity for Minimus Company for 2019.MINIMUS COMPANYStatement of Stockholders' EquityFor the Year Ended December 31, 2019CommonStock RetainedEarnings Total Stockholders'EquityBalance at December 31, 2018Issuance of Common StockNet IncomeDividends Paid(Enter as negative)Balance at December 31, 2019

A statement of stockholders’ equity is a financial statement prepared at the end of an accounting…

Answered: Statement of Stockholders' Equity You…

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

Please help me with show all calculation thanku
Bhola
What is your company’s common and preferred stock par or stated value? 2019
A) Prepare a statement of comprehensive income for the year ended 31 December 2019 for ABC. B) Prepare a statement of changes in equity for ABC, for the year ended 31 December 2019.
Direction. Read and understand the case and answer the requirements. On December 31, 2020, Shipyard, Inc. reported the following stockholders' equity account: Common Stock, $10 par value Paid-in Capital in excess of par value, common stock Retained Earnings +In 2021, the following entries related to its equity are recorded. Date Accounts Jan. Feb Feb Mar Dec 17 Retained Earnings 2021 5 28 14 Common Dividend Payable Common Dividend Payable Cash Retained Earnings Common Stock Dividend Distributable Paid-in Capital in Excess of Par Value, Common Stock Common Stock Dividend Distributable Common Stock, $10 Par Value 31 Income Summary Retained Earnings The table shows the equity balances as of December 31, 2021. Paid-in capital in excess of par Beginning Balance Dividend declaration Stock Dividend Declaration Stock Dividend Distribution Net Income Common Stock 1,000,000 130,000 1,130,000 300,000 Common stock dividend distributable 300,000 120,000 120,000 Debit 100,000 100,000 250,000 120,000…
Please do not provide answer in image format thank you
Question Content Area Comparative Earnings per Share Lucas Company reports net income of $5,125 for the year ended December 31, 2019, its first year of operations. On January 4, 2019, Lucas issued 9,000 shares of common stock. On August 2, 2019, it issued an additional 3,000 shares of stock, resulting in 12,000 shares outstanding at year-end. During 2020, Lucas earned net income of $16,400. It issued 2,000 additional shares of stock on March 3, 2020, and declared and issued a 2-for-1 stock split on November 3, 2020, resulting in 28,000 shares outstanding at year-end. During 2021, Lucas earned net income of $23,520. The only common stock transaction during 2021 was a 20% stock dividend issued on July 2, 2021. Compute the 2019 comparative basic earnings per share that would be disclosed in the 2021 annual report.
BERGER PAINTS For the Year Ended December 31, 2019 Retained Earnings 1,000,000 Net Income 460,000 2 per share for 2019 dividend on 10,000 shares of preferred stock outstanding. 2 per share for 2018 dividend on 10,000 shares of preferred stock outstanding. 1 per share for 2019 dividend on 100,000 shares of common stock outstanding. Required: Prepare a statement of retained earnings for 2019.
Compute basic earnings per share for 2021 Compute the diluted earnings per share for 2021
Comparative Statements of Shareholders' Equity for Locke Intertechnology Corporation were reported as follows for the fiscal years ending December 31, 2019, 2020, and 2021. Balance at January 1, 2019 sale of preferred shares sale of common shares, 7/1 Cash dividend, preferred Cash dividend, common Net income Balance at December 31, 2019 Retirement of common shares, 4/11 Cash dividend, preferred Cash dividend, common 3-for-2 split effected in the form of a common stock dividend, 8/12 Net income Balance at December 31, 2020 18% common stock dividend, 5/1 sale of common shares, 9/1 Cash dividend, preferred Cash dividend, common Net income Balance at December 31, 2021 Year 2019 2020 2021 LOCKE INTERTECHNOLOGY CORPORATION statements of shareholders' Equity For the Years Ended Dec. 31, 2019, 2020, and 2021 ($ in millions) Numerator / Denominator = Earnings per share 1 1 1 = Preferred stock, $10 par 12 12 12 $12 Common stock, $1 par 80 $ 11 91 (4) 43.5 130.5 13.05 3 $146.55 Additional Paid-in…
Based on the below information prepare a statement of shareholders’ equity in a proper format for Rams Ltd. for the year ended December 31, 2020. Rams Ltd. reported the following balances at January 1, 2020: Common shares................................................................................ $370,000 Preferred shares................................................................................ 74,000 Contributed surplus ........................................................ 65,000 Retained earnings............................................................................. 70,000 Accumulated other comprehensive income..................................... 71,000 Rams’ corporate tax rate .................................................................. 31.5% During the year, Rams performed the following: 1. The cumulative effect of the change from straight-line to accelerated depreciation resulted in a reduction to retained earnings of $35,000, before tax. 2. Issued common…
Journalizing dividends and treasury stock transactions and preparing the stockholders’ equity section of the balance sheet Deerborn Manufacturing Co. completed the following transactions during 2018: Requirements Record the transactions in Deerborn’s general journal. Prepare the Deerborn’s stockholders’ equity section of the balance sheet as of December 31, 2018. Assume that Deerborn was authorized to issue 2,600 shares of preferred stock and 400,000 shares of common stock. Both preferred stock and Common stock were issued at par. The ending balance of retained earnings as of December 31, 2018, is $2,060,000.

SEE MORE QUESTIONS

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS