The annual report for Malibu Beachwear reported the following transactions affecting stockholders' equity: Purchased $351,900 of common stock now held in treasury. Declared cash dividends in the amount of $ 260,950. Paid the dividends in (b). Issued 119,000 new shares of $0.10 par value common shares for $2 per share. Closed the Dividends account. Prepare a statement of stockholders' equity, assuming the following opening balances.
The annual report for Malibu Beachwear reported the following transactions affecting stockholders' equity: Purchased $351,900 of common stock now held in treasury. Declared cash dividends in the amount of $ 260,950. Paid the dividends in (b). Issued 119,000 new shares of $0.10 par value common shares for $2 per share. Closed the Dividends account. Prepare a statement of stockholders' equity, assuming the following opening balances.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:The annual report for Malibu Beachwear reported the following transactions affecting stockholders' equity:
Purchased $351,900 of common stock now held in treasury. Declared cash dividends in the amount of $
260,950. Paid the dividends in (b). Issued 119,000 new shares of $0.10 par value common shares for $2 per
share. Closed the Dividends account. Prepare a statement of stockholders' equity, assuming the following
opening balances.
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