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whats the stockholder equity for this

whats the stockholder equity for this

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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whats the stockholder equity for this

Statement on Stockholders' Equity Year 2 Beginning Common Stock & APIC Plus: common stock issued Plus: additional paid in capital Ending Common Stock Beginning Retained Earnings Plus: Net Income Less: Dividends Ending Retained Earnings Total Stockholders' Equity $
Transcribed Image Text:Statement on Stockholders' Equity Year 2 Beginning Common Stock & APIC Plus: common stock issued Plus: additional paid in capital Ending Common Stock Beginning Retained Earnings Plus: Net Income Less: Dividends Ending Retained Earnings Total Stockholders' Equity $
Liabilities Equity Notes Payable wages Payable Common Stock APIC Income Statement Cash Flow Cash Equipment Building Accounts Dividend Expenses Net income Retaing Eaming 2,00,000 $ 1,00,000 $116,167 Accounts Inventory Land Accumulated Account Title Revenue Type Amount receivable Depreciation Payable Payable 8.333 S 1.18.000 $ 2.57.000 $ 5,50,000 $ 15,00,000 S 3,00,000 Beginning Bolonces as of Dec 31, Year 1 LAcquired $550.000 by signing a note payable wilth a local bank 2. Sold 25.000 shares of $22 Common Stock for $1.SO0.000 3. Purchased Eauipment for $300.000 4. Purchased inventory on Account - 25.000 Units ot $1.15 per unit Sa. Sold 15.000 units at $3.50 on Account Sb. COGS for Sales on Account 6. Colect 70.000 on Account 7. Pold $117.250 of Accounts Payoble 8. Purchased inventory on Account - 170.000 Units ot $1.50 per unit 9a. Sold 175.000 units at $3.50 on Account 9b. COGS for Sales on Account 10. Collect $472.500 on Account 1. Paid $218.600 of Accounts Payable 12. Purchosed Inventory on Account - 275.000 Units at $1.35 per unit 130. Sold 200.000 units ot $3.50 on Account 13b. COGS for Soles on Account 14. Collect $735.000 on Account 15. Paid $494.150 of Accounts Payable 16. Purchased Inventory on Account - 300.000 Units ot $1.15 per unit 17. Paid Soles & Morkeing Expenes of $30.000 18. Paid Operating Expenses of $75.708 19. Record Woges Payable of $40.000 20. Paid Product Line Reseorch & Development Expenses of $150.000 21. Paid Advertising Expenses of $87.500 S 2,57,000 S 5 5.50.000 $ 15,00,000 17,500 S 28,000 $ $ 50,000 S 2,50,000. S 5.50,000 $ 15,00,000 Financing Financing S 3,00,000 $ 3,00,000 Investine 28,750 2現750 Non-Cash 52,500 Sales revenue 52,500 Non-Cash $ 29,150 Non Cash Cost of Goods Sold 29.150 $ 70,000 $ 1,17,250 70,000 S -70,000 Operating S 1,17,250 S 1,17,250 $ 2,55,000 Operating $ 2,55,000 Non-Cash $ 6,12,500 Sales revenue $ 6.12500 Non Cash S 2,53,900 Cost of Goods Sold S 2,53.900 Non-Cash $ 4,72,500 S 4,72,500 $ 2,18,600 $ 4,72,500 S 2.18.600 Operating $ 3,18600 $ 3,71,250 Operating S 3,71,250 Non Cash $ 7,00,000 Sales revenue $ 7,00,000 Non-Cash S 3.39.150 Cost of Goods Sold $ 3,39,150 Non-Cash S 7,35,000 S -7,35,000 $ 4,54,150 $ 7,35,000 $ 4,94,150 Operating $ 4,4.150 $ 3,45,000 Operating $ 345,000 Non-Cash 30,000 $ 75,708 $ 40,000 $ -1,50,000 S 47,500 30,000 Sales & Marketing Expenses Operating Expensses 30,000 Operating Operating Operating -75,708 -75,708 $ 40,000 40.000 $ -1,50,000 Research expenses $ 1,50.000 Operating Is 47,500 Advertising Expenses 87,500 Operating 22. Mode the yeaty required payment on the note payable. The note caries a 7% nterest rate and requires payments of $50.000 plus interest each December 31. $48.500 -50,000 Interest Expenses -38.500 Operating $ 48,500 23. Record first year of Depreciation on Equipment Purchased in Year 2 with Salvage Value of $38.000 & useful ile of 7 Yrs 24. Declared a $10.000 cash dividend for stockholders 25. Poid a $10000 coh dividend for stockholders Balance at end of Y 2 37,429 Depreciation Expenses 37,429 Non-Cash $ 10,000 S 10,000 $ -10,000 Non-Cash S 10,000 Financing $ 10,000 S 19,72.792 S 1,05.000 S 4.05,800 S 300,000 S 50.000 S 2,50.000 s 45,762 $ 238.000 S $ 5.00.000 $ 40,000 $ 17,00,000 $ 100.000 $1,66,167s $ 11,65.000 $-10,41,337 S $ 19,72,792 Since no par value mentioned, all amount are taken into common stock
Transcribed Image Text:Liabilities Equity Notes Payable wages Payable Common Stock APIC Income Statement Cash Flow Cash Equipment Building Accounts Dividend Expenses Net income Retaing Eaming 2,00,000 $ 1,00,000 $116,167 Accounts Inventory Land Accumulated Account Title Revenue Type Amount receivable Depreciation Payable Payable 8.333 S 1.18.000 $ 2.57.000 $ 5,50,000 $ 15,00,000 S 3,00,000 Beginning Bolonces as of Dec 31, Year 1 LAcquired $550.000 by signing a note payable wilth a local bank 2. Sold 25.000 shares of $22 Common Stock for $1.SO0.000 3. Purchased Eauipment for $300.000 4. Purchased inventory on Account - 25.000 Units ot $1.15 per unit Sa. Sold 15.000 units at $3.50 on Account Sb. COGS for Sales on Account 6. Colect 70.000 on Account 7. Pold $117.250 of Accounts Payoble 8. Purchased inventory on Account - 170.000 Units ot $1.50 per unit 9a. Sold 175.000 units at $3.50 on Account 9b. COGS for Sales on Account 10. Collect $472.500 on Account 1. Paid $218.600 of Accounts Payable 12. Purchosed Inventory on Account - 275.000 Units at $1.35 per unit 130. Sold 200.000 units ot $3.50 on Account 13b. COGS for Soles on Account 14. Collect $735.000 on Account 15. Paid $494.150 of Accounts Payable 16. Purchased Inventory on Account - 300.000 Units ot $1.15 per unit 17. Paid Soles & Morkeing Expenes of $30.000 18. Paid Operating Expenses of $75.708 19. Record Woges Payable of $40.000 20. Paid Product Line Reseorch & Development Expenses of $150.000 21. Paid Advertising Expenses of $87.500 S 2,57,000 S 5 5.50.000 $ 15,00,000 17,500 S 28,000 $ $ 50,000 S 2,50,000. S 5.50,000 $ 15,00,000 Financing Financing S 3,00,000 $ 3,00,000 Investine 28,750 2現750 Non-Cash 52,500 Sales revenue 52,500 Non-Cash $ 29,150 Non Cash Cost of Goods Sold 29.150 $ 70,000 $ 1,17,250 70,000 S -70,000 Operating S 1,17,250 S 1,17,250 $ 2,55,000 Operating $ 2,55,000 Non-Cash $ 6,12,500 Sales revenue $ 6.12500 Non Cash S 2,53,900 Cost of Goods Sold S 2,53.900 Non-Cash $ 4,72,500 S 4,72,500 $ 2,18,600 $ 4,72,500 S 2.18.600 Operating $ 3,18600 $ 3,71,250 Operating S 3,71,250 Non Cash $ 7,00,000 Sales revenue $ 7,00,000 Non-Cash S 3.39.150 Cost of Goods Sold $ 3,39,150 Non-Cash S 7,35,000 S -7,35,000 $ 4,54,150 $ 7,35,000 $ 4,94,150 Operating $ 4,4.150 $ 3,45,000 Operating $ 345,000 Non-Cash 30,000 $ 75,708 $ 40,000 $ -1,50,000 S 47,500 30,000 Sales & Marketing Expenses Operating Expensses 30,000 Operating Operating Operating -75,708 -75,708 $ 40,000 40.000 $ -1,50,000 Research expenses $ 1,50.000 Operating Is 47,500 Advertising Expenses 87,500 Operating 22. Mode the yeaty required payment on the note payable. The note caries a 7% nterest rate and requires payments of $50.000 plus interest each December 31. $48.500 -50,000 Interest Expenses -38.500 Operating $ 48,500 23. Record first year of Depreciation on Equipment Purchased in Year 2 with Salvage Value of $38.000 & useful ile of 7 Yrs 24. Declared a $10.000 cash dividend for stockholders 25. Poid a $10000 coh dividend for stockholders Balance at end of Y 2 37,429 Depreciation Expenses 37,429 Non-Cash $ 10,000 S 10,000 $ -10,000 Non-Cash S 10,000 Financing $ 10,000 S 19,72.792 S 1,05.000 S 4.05,800 S 300,000 S 50.000 S 2,50.000 s 45,762 $ 238.000 S $ 5.00.000 $ 40,000 $ 17,00,000 $ 100.000 $1,66,167s $ 11,65.000 $-10,41,337 S $ 19,72,792 Since no par value mentioned, all amount are taken into common stock
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