Question

Statement of Stockholders' Equity and Balance Sheet The following is balance sheet information for Bryant Packaging Service at the end of 2019 and 2018: Accounts Payable Cash Accounts Receivable Equipment, net Notes Payable Supplies Common Stock Dividends Retained Earnings December 31, December 31, 2019 2018 $2,800 $2,600 11,000 12,000 23,800 19,500 33,000 31,000 21,000 21,000 5,700 5,200 6,000 6,000 13,000

Answer 1

BRYANT PACKAGING SERVICES Balance Sheet 31-Dec-19 31-Dec-18 ASSETS Cash $11,000 $12,000 Accounts Receivable $23,800 $19,500 Equipments, net $33,000 $31,000 Supplies $5,700 $5,200 Total Assets $73,500 $67,700 LIABILITIES Accounts payable $2,800 $2,600 Notes Payable $21,000 $21,000 Total Liabilities $23,800 $23,600 STOCKHOLDERS EQUITY Common Stock $6,000 $6,000 Retained Earnings (Balance) $43,700 Total Stockholders Equity $49,700 $44,100 Total Liabilities ans Stockholder $73,500 $67,700 NOTE: Total asset is given only the balance of retained earnings is missing. Therefore the balance figure is retained earnings

BRYANT PACKAGING SERVICES Statement of Stockholders Equity For the year ended December 31, 2019 Common stock Retained earnings Total Balance, December 31, 2018 $6,000 $38,100 $44,100 Add: Net Income for 2019 $18,600 $18,600 Less: Dividends for 2019(enter as negative) ($13,000) ($13,000) Balance, December 31, 2019 $6,000 $43,700 $49,700 net income for 2019 = $43700+ $13000 - $38100 = $18600