The stockholders' equity T accounts of Family Greeting Cards Inc. for the current fiscal year ended December
Question:
The stockholders' equity T accounts of Family Greeting Cards Inc. for the current fiscal year ended December 31, 2008, are as follows. Prepare a statement of stockholders' equity for the fiscal year ended December 31,2008.
Transcribed Image Text:
COMMON STOCK 600,000 Jan. Balance Apr. 9 Issued 50,000 shares 150,000 750,000 Dec. 31 Balance PAID-IN CAPITAL IN EXCESS OF PAR Jan. 1 Balance Apr. 9 Issued 350,000 50,000 shares 100,000 450,000 Dec. 3 Balance TREASURY STOCK Aug. 7 Purchased 6,000 shares 24,000 RETAINED EARNINGS 2,108,000 June 30 Dividend Dec. 30 Dividend 40,000 Jan. Balance 40,000 Dec. 31 Closing (net income) 325,000 2,353,000 Dec. 3Balance
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 73% (19 reviews)
Balance Jan 1 2008 Issued 50000 shares of common stock Purchased 6000 Shares as treasury ...View the full answer
Answered By
PU Student
cost accounting
financial accounting
auditing
internal control
business analyst
tax
i have 3 years experience in field of management & auditing in different multinational firms. i also have 16 months experience as an accountant in different international firms. secondary school certification.
higher secondary school certification.
bachelors in mathematics.
cost & management accountant
4.80+
4+ Reviews
10+ Question Solved
Related Book For
Accounting
ISBN: 978-0324401844
22nd Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
Question Posted:
Students also viewed these Accounting questions
-
The stockholders?? equity T accounts of Life??s Greeting Cards Inc. for the current fiscal year ended December 31, 2012, are as follows. Prepare a statement of stockholders?? equity for the fiscal...
-
The stockholders' equity T accounts of For All Occasions Greeting Cards Inc. for the current fiscal year ended December 31, 2010, are as follows. Prepare a statement of stockholders' equity for the...
-
The partially completed work sheet for the current fiscal year of Sandy's Delivery Service appears below: Required 1. Complete the work sheet. 2. Journalize the adjusting and closing entries (omit...
-
You want to launch a business internationally, and you need to choose 3 countries1 in the Middle East, 1 in Asia, and 1 in Latin America. What are some of the components of these cultures that you...
-
You are hired by Expressimo Delivery Service to develop an application that computes the delivery charge. The company allows two types of packaging-letter and box-and three types of service-Next Day...
-
Question 1 An interest-bearing note payable on the balance sheet of CMA Co. will require the following payments: 1 point Stated face amount at issuance along with periodic interest payments...
-
What are the economic (as opposed to political) difficulties in achieving an international harmonisation of economic policies so as to avoid damaging currency fluctuations?
-
After substantial marketing research, Taoyuan Corporation management believes that it can make and sell a new battery with a prolonged life for laptop computers. Management expects the market demand...
-
For example, suppose a leader wants to bring in changes and create actual business results for the organization they are working for. In that case, they must first learn the skills needed to have...
-
Wells Technical Institute (WTI), a school owned by Tristana Wells, provides training to individuals who pay tuition directly to the school. WTI also offers training to groups in off-site locations....
-
List the errors in the following Stockholders' Equity section of the balance sheet prepared as of the end of the currentyear. Stockholders' Equity Paid-in capital: Preferred 1% stock, $75 par (8,000...
-
Rolling Pin Corporation wholesales ovens and ranges to restaurants throughout the Midwest. Rolling Pin Corporation, which had 50,000 shares of common stock outstanding, declared a 3-for-1 stock split...
-
In problem proceed as in Example 5 to find a solution of the given initial-value problem. y'' - 4y = e 2x , y(0) = 1, y'(0) = -4
-
Your task in this portion of the assignment is to create a class to represent a library patron's record and to complete the methods to have a working menu system for the librarians to use when...
-
Real-world leaders can be teachers of change management through their example - whether effective or not. Use such real-world examples and explain how a leader encourages change or fails to do so....
-
Rule of law or legal principle applied 1. The rule of law that the court applies to determine the substantive rights of the parties. (the rule of law could be from statute, precedent, regulation,...
-
"When management thinks they are having enough revenues, their business is overall successful, they offer what their customer wants and most of all when they perceive quality and auditing as just an...
-
Resource Management for "TechTrends Inc." This innovative startup had a bold vision - to transform the tech accessories market by creating a cutting-edge e-commerce website. This website would not...
-
Write a brief note on the S curve.
-
on 8 For the following set of lengths 130, 170, 160, 160, 150, 190 Third quartile is: et red d out of Select one: O a. 160 a question O b. 145 O c. 175 O d. 180
-
Use the T2 Laboratories incident of Problem 13-5 to list the details of this incident investigation: (a) the underlying and root causes of the incident and (b) the first and other recommendation...
-
For each item below, indicate to which category of elements of financial statements it belongs. (a) Retained earnings (b) Sales (c) Additional paid-in capital (d) Inventory (e) Depreciation (f) Loss...
-
For each item below, indicate to which category of elements of financial statements it belongs. (a) Retained earnings (b) Sales (c) Additional paid-in capital (d) Inventory (e) Depreciation (f) Loss...
-
Identify which basic assumption of accounting is best described in each item below. (a) The economic activities of FedEx Corporation are divided into 12-month periods for the purpose of issuing...
-
4. Elizabeth has $1537.21 in her savings account. The account pays 4% compounded monthly. Elizabeth does not make any deposits or withdrawals over the next 6 months. How much interest does the...
-
7. Part of an amortization table is shown below. Determine the missing values in the table labeled A, B, C, D Payment Monthly Interest Principal Outstanding A) number payment paid paid balance 0 $175...
-
3. Calculate the following dosages according to kilogram of body weight: a. The physician ordered Zovirax capsules 5 mg/kg every 8 hours for 7 days for a patient who has a diagnosis of herpes zoster....
Study smarter with the SolutionInn App