At the beginning of the year (January 1), Wild Horses Drilling has $12,000 of common stock...

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At the beginning of the year (January 1), Wild Horses Drilling has $12,000 of common stock outstanding and retained earnings of $6,500. During the year, Wild Horses reports net income of $6,800 and pays dividends of $1,500. In addition, Wild Horses issues additional common stock for $6,300. Required: Prepare the statement of stockholders' equity at the end of the year (December 31). Beginning balance Issuance of common stock Add: Net income Less: Dividends Ending balance X Answer is complete but not entirely correct. WILD HORSES DRILLING Statement of Stockholders' Equity For the Year Ended December 31 > Common Stock Retained Earnings $ 12,000 6,300 12,000 6,300 X $ 24,000 $ $ 6,500 6,800 1,500 11,800 Total Stockholders' Equity $ $ 18,300 X 11,800 X 18,300 X 11,800 X 36,600 PO At the beginning of the year (January 1), Wild Horses Drilling has $12,000 of common stock outstanding and retained earnings of $6,500. During the year, Wild Horses reports net income of $6,800 and pays dividends of $1,500. In addition, Wild Horses issues additional common stock for $6,300. Required: Prepare the statement of stockholders' equity at the end of the year (December 31). Beginning balance Issuance of common stock Add: Net income Less: Dividends Ending balance X Answer is complete but not entirely correct. WILD HORSES DRILLING Statement of Stockholders' Equity For the Year Ended December 31 > Common Stock Retained Earnings $ 12,000 6,300 12,000 6,300 X $ 24,000 $ $ 6,500 6,800 1,500 11,800 Total Stockholders' Equity $ $ 18,300 X 11,800 X 18,300 X 11,800 X 36,600 PO

Answer rating: 100% (QA)

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