Ollie Company experienced the following events during its first-year operations: 1. Acquired $72,000 cash from the issue
Question:
Ollie Company experienced the following events during its first-year operations:
1. Acquired $72,000 cash from the issue of common stock.
2. Borrowed $26,000 from the First City Bank.
3. Earned $59,000 of cash revenue.
4. Incurred $43,000 of cash expenses.
5. Paid a $7,000 cash dividend.
6. Paid $43,000 to purchase land.
Required
Prepare a statement of changes in stockholders’ equity.
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Related Book For
Introductory Financial Accounting for Business
ISBN: 978-1260299441
1st edition
Authors: Thomas Edmonds, Christopher Edmonds
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