Question

0.75 points Catena's Marketing Company has the following adjusted trial balance at the end of the current year, Cash dividends of $630 were declared at the end of the year, and 520 additional shares of common stock ($0.10 par value per share) were issued at the end of the year for $2.000 in cash (for a total at the end of the year of 830 shares). These effects are included below: eBook 2,650 Catena's Marketing Company Audjusted Trial Balance End of the Current Year Debit Credit Cash $ 1,590 Accounts receivable 2,320 Interest receivable 250 Prepaid insurance 1,690 Long-term notes 2,950 receivable Equipment 15, 100 Accumulated $ 2,830 depreciation Accounts 2,340 payable Dividends payable 630 Accrued expenses 3,730 payable Income taxes payable Unearned rent revenue 450 Common Stock (830 shares) Additional paid-in 3,557 capital Retained 3,280 earnings Sales 37,250 revenue Interest revenue Rent revenue 720 wages expense 18,700 Depreciation 1,700 expense Utilities 400 expense Insurance 740 expense Rent expense 9,400 Income tax 2,800 expense Total $57,640 $57,640 120 Prepare a statement of stockholders' equity for the current year. (Reductions in account balances should be indicated with a minus sign.) CATENA'S MARKETING COMPANY Statement of Stockholders' Equity For the current year Addition étaine Stockh Commo Paid-in Earning Equity Stock Paid-in Retained Total Capital Earning Ege Balance, January

Answer 1

Catena's Marketing Company Statement of Stockholders Equity For the Current Year Common Stock Additional paid in capital Retained Earnings Total Stockholders Equity Balance, January 1 1,529 3,910 5,470 Issue of new shares 52 2,028 2,080 Net Income 4,350 4,350 Dividends (630) (630) Balance, December 31 83 3,557 7,630 11,270 Calculation Common Stock Additional PIC RE =83-52 =3,557-2,028 =3,280+630 =520*0.10 = 2,080-52