The following balances were shown on the year-end balance sheets for 2009 and 2010 for Columbia Company.
Question:
The following balances were shown on the year-end balance sheets for 2009 and 2010 for Columbia Company.
For each item, give the most likely reason for the change from one year to thenext.
Transcribed Image Text:
December 3 D December 31, Explanation Common stock Paid-in capital Retained earnings Treasury stock Net income for the year was $20,000 2009 45,000 $200,000 $182,500 2010 $ 50,000 $230,000 $200,000 (3,450) (5,450)
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Related Book For
Financial Accounting: A Business Process Approach
ISBN: 978-0136115274
3rd edition
Authors: Jane L. Reimers
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