On January 1, 2010, Yadier Inc. had the following stockholders' equity account balances. Common Stock, no-par value
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Question:
Common Stock, no-par value (496,000 shares issued) $1,488,000
Common Stock Dividends Distributable 185,000
Retained Earnings 561,000
During 2010, the following transactions and events occurred.
Issued 54,560 shares of common stock as a result of a 11 % stock dividend declared on December 15, 2009.
Issued 27,000 shares of common stock for cash at $6 per share.
Corrected an error that had understated the net income for 2008 by $72,000.
Declared and paid a cash dividend of $76,000.
Earned net income of $273,000.
Instructions
Prepare the stockholders' equity section of the balance sheet at December 31, 2010.
YADIER INC.
Stockholders' Equity Section of Balance Sheet
December 31, 2010
Stockholders' equity
Paid-in capital
Capital stock
Common stock, no-par value,
____________ shares issued and outstanding $___________
Retained earnings ___________
Total stockholders' equity $ ________________
Related Book For
Accounting Principles
ISBN: 978-0470533475
9th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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