Client Stonework corporation was organized on January 1, 2015. For its first two years of operations,...
Client Stonework corporation was organized on January 1, 2015. For its first two years of operations, it reported the following.
Net Income for 2015 $31,000
Net income for 2016 $42,000
Dividends for 2015 $14,200
Dividends for 2016 $18,700
Total assets at the end of 2015 $130,000
Total assets at the end of 2016 $250,000
Common sock at the end of 2015 $100,000
Common stock at the end of 2016 $100,000
On the basis of data given, prepare a statement stockholders equity for 2016
Homework Answers
Retained earnings for 2015 = Net income for 2015 - Dividend for 2015
= 31,000-14,200
= $16,800
| Statement of Retained Earnings (2016) | |
| Retained earnings beginning | 16,800 |
| Net income | 42,000 |
| 58,800 | |
| Dividends | -18,700 |
| Retained Earnings, ending | $40,100 |
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Client Stonework corporation was organized on January 1, 2015.
For its first two years of operations,...
Question 8 Client Stonework corporation was organized on January 1, 2015. For its first two years...
Question 8 Client Stonework corporation was organized on January 1, 2015. For its first two years of operations, it reported the following. Net Income for 2015 $31,000 Net income for 2016 $42,000 Dividends for 2015 $14,200 Dividends for 2016 $18,700 Total assets at the end of 2015 $130,000 Total assets at the end of 2016 $250,000 Common sock at the end of 2015 $100,000 Common stock at the end of 2016 $100,000 On the basis of data given, prepare a...
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