whats the stockholder equity for this

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question

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
Expert Solution
steps

Step by step

Solved in 2 steps with 3 images

Blurred answer
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education