You have been asked to assist with the preparation of a statement of stockholders' equity for Maxx Company for the current year ended December 31. You determine the following balances: Beginning-of-year common stock $5,000 Beginning-of-year retained earnings 7,500 Net income 2,500 Dividends paid 250 Issuance of common stock 400 Prepare a statement of stockholders' equity for Maxx Company for the current year. Note: Use a negative sign to shown a reduction to the balance. Maxx Company Statement of Stockholders' Equity For Year Ended December 31 Total Common Retained Stockholders' Stock Earnings Equity Balance at beginning of year 0 $ 0 $ Issuance of common stock Net income Less: Dividends Balance at end of year $ 0 $ 0 $
You have been asked to assist with the preparation of a statement of stockholders' equity for Maxx Company for the current year ended December 31. You determine the following balances: Beginning-of-year common stock $5,000 Beginning-of-year retained earnings 7,500 Net income 2,500 Dividends paid 250 Issuance of common stock 400 Prepare a statement of stockholders' equity for Maxx Company for the current year. Note: Use a negative sign to shown a reduction to the balance. Maxx Company Statement of Stockholders' Equity For Year Ended December 31 Total Common Retained Stockholders' Stock Earnings Equity Balance at beginning of year 0 $ 0 $ Issuance of common stock Net income Less: Dividends Balance at end of year $ 0 $ 0 $
Century 21 Accounting General Journal
11th Edition
ISBN:9781337680059
Author:Gilbertson
Publisher:Gilbertson
Chapter16: Financial Statements And Closing Entries For A Corporation
Section16.2: Preparing A Statement Of Stockholders’ Equity
Problem 1OYO
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