On December 31, 2013, WOR Productions reported $100,000 of contributed capital and $20,000 of retained earnings. During
Question:
a. Issued shares for $50,000.
b. Declared and paid a cash dividend of $5,000.
c. Reported total revenue of $120,000 and total expenses of $87,000?
Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...
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WOR Productions Statement of Shareholders Equity For the Year En...View the full answer
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Related Book For 
Fundamentals of Financial Accounting
ISBN: 978-1259103292
4th Canadian edition
Authors: Fred Phillips, Robert Libby, Patricia Libby, Brandy Mackintosh
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