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The revenues and expenses of A-One Travel Service for the year ended August 31, 20Y6, follow: Fees earned $1,150,000 Office expense 150,000 Miscellaneous expense 45,000 Wages expense 640,000 Kate Duffner invested an additional $15,000 in the business in exchange for common stock, and $50,000 of dividends were paid during the year. Common stock had a balance of $60,000 and retained earnings had a balance of $775,000 as of September 1, 2015. Prepare a statement of stockholders' equity for the year ended August 31, 20Y6. If an amount box does not require an entry, leave it blank.

The revenues and expenses of A-One Travel Service for the year ended August 31, 20Y6, follow: Fees earned $1,150,000 Office expense 150,000 Miscellaneous expense 45,000 Wages expense 640,000 Kate Duffner invested an additional $15,000 in the business in exchange for common stock, and $50,000 of dividends were paid during the year. Common stock had a balance of $60,000 and retained earnings had a balance of $775,000 as of September 1, 2015. Prepare a statement of stockholders' equity for the year ended August 31, 20Y6. If an amount box does not require an entry, leave it blank.

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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The revenues and expenses of A-One Travel Service for the year ended August 31, 2016, follow: Fees earned $1,150,000 Office expense 150,000 Miscellaneous expense 45,000 Wages expense 640,000 Kate Duffner invested an additional $15,000 in the business in exchange for common stock, and $50,000 of dividends were paid during the year. Common stock had a balance of $60,000 and retained earnings had a balance of $775,000 as of September 1, 2015. Prepare a statement of stockholders' equity for the year ended August 31, 20Y6. If an amount box does not require an entry, leave it blank. A-One Travel Service Statement of Stockholders' Equity For the Year Ended August 31, 20Y6 Line Item Description Common Retained. Stock Earnings Total ED
Transcribed Image Text:The revenues and expenses of A-One Travel Service for the year ended August 31, 2016, follow: Fees earned $1,150,000 Office expense 150,000 Miscellaneous expense 45,000 Wages expense 640,000 Kate Duffner invested an additional $15,000 in the business in exchange for common stock, and $50,000 of dividends were paid during the year. Common stock had a balance of $60,000 and retained earnings had a balance of $775,000 as of September 1, 2015. Prepare a statement of stockholders' equity for the year ended August 31, 20Y6. If an amount box does not require an entry, leave it blank. A-One Travel Service Statement of Stockholders' Equity For the Year Ended August 31, 20Y6 Line Item Description Common Retained. Stock Earnings Total ED
A-One Travel Service Statement of Stockholders' Equity For the Year Ended August 31, 20Y6 Line Item Description Common Retained Stock Earnings 100000 $ tA LA tA Total
Transcribed Image Text:A-One Travel Service Statement of Stockholders' Equity For the Year Ended August 31, 20Y6 Line Item Description Common Retained Stock Earnings 100000 $ tA LA tA Total
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