Question
In: Accounting
Presented below is financial data for Thomas & Co. as of year-end 2013 Cash: $22000 Retained...
Presented below is financial data for Thomas & Co. as of
year-end 2013
Cash: $22000
Retained earnings, January 1, 2013: $32000
Building: $50000
Common stock: $106000
Accrued expenses payable: $14000
Dividends paid: $30000
Inventory: $20000
Net income: $66000
Stockholders’ equity, January 1, 2013: $138000
Retained Earnings, December 31, 2013: ?
Stockholders’ equity, December 31, 2013: $174000
Prepare a statement of stockholders’ equity for Thomas &
Co. as of December 31, 2013
Solutions
Expert Solution
- Statement of Stockholder’s Equity is presented below
- Retained Earnings balance can be calculated by adding Net Income and deducting Dividend amount from Beginning balance of Retained Earnings.
|
Statement of Stockholder's Equity as of Dec 31, 2013 |
|||
|
Common Stock |
Retained Earnings |
Total Stockholder's Equity |
|
|
Balance jan 1, 2013 |
$ 106,000.00 |
$ 32,000.00 |
$ 138,000.00 |
|
Net Income |
$ 66,000.00 |
$ 66,000.00 |
|
|
Dividends |
$ (30,000.00) |
$ (30,000.00) |
|
|
Balance Dec 31, 2013 |
$ 106,000.00 |
$ 68,000.00 |
$ 174,000.00 |
ekkarill92 answered 1 year agoRelated Solutions
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