Riverside Company reported the following items on its statement of shareholders equity for the year ended December

Question:

Riverside Company reported the following items on its statement of shareholders’ equity for the year ended December 31, 2021 (amounts in thousands of dollars):


Requirements

1. Determine the December 31, 2021, balances in Riverside’s shareholders’ equity accounts and total shareholders’ equity.

2. Riverside’s total liabilities on December 31, 2021, are $7,000. What is the company’s debt ratio on this date?

3. Was there a profit or a loss for the year ended December 31, 2021? How can you tell?

4. At what price per share did Riverside issue common stock during 2021?

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Related Book For  book-img-for-question

Financial Accounting

ISBN: 9780136899037

13th Edition

Authors: C. William Thomas, Wendy M Tietz

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