Question

On January 1, 2010, the Osborne Company reported the following alphabetical list of stockholders’ equity items:
Additional paid-in capital on common stock ......... $170,000
Additional paid-in capital on preferred stock ........ 12,000
Common stock, $2 par .................. 80,000
Preferred stock, $100 par ................. 60,000
Retained earnings ................... 209,000
During 2010, the company sold 3,000 shares of common stock for $10 per share and 500 shares of preferred stock for $125 per share. It also earned income of $99,000 and paid dividends of $8 per share on the preferred stock and $1.50 per share on the common stock outstanding at the end of 2010.

Required
Prepare a statement of changes in stockholders’ equity of the Osborne Company for 2010. (Include retained earnings.)



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  • CreatedDecember 09, 2013
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