Stetson Auto Inc. was incorporated on January 1, 2016 and commenced operations at that date. A $2,000
Question:
Common shares
Issued and outstanding-10,000 shares
Restriction-plant addition
Revenues (total for 2016)
Expenses (total for 2016)
Cash dividends declared
$ 10,000
150,000
2,575,000
2,000,000
23,000
Required: Prepare the shareholders' equity section of Stetson Auto's balance sheet at December 31, 2016 and the statement of changes in shareholders' equity for the year then ended.
Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial... Dividend
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
Accounting Introduction To Financial Accounting
ISBN: 9781517089719
1st Edition
Authors: Henry Dauderis, David Annand
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