Total stockholders equity of Davis Company increased by $42,250 between December 31, 2013, and December 31, 2014.
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Total stockholders’ equity of Davis Company increased by $42,250 between December 31, 2013, and December 31, 2014. During 2014 Davis acquired $15,000 cash from the issue of common stock. The company paid a $2,500 cash dividend to the stockholders during 2014. Total expenses during 2014 amounted to $18,000.
Required
Determine the amount of revenue that Davis reported on its 2014 income statement.
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...
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Related Book For
Fundamental financial accounting concepts
ISBN: 978-0078025365
8th edition
Authors: Thomas P. Edmonds, Frances M. Mcnair, Philip R. Olds, Edward
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