The stockholders' equity T accounts of For All Occasions Greeting Cards Inc. for the current fiscal year
Question:
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 fiscal year ended December 31,2010.
COMMON STOCK Jan. 1 Balance 2,000,000 Feb. 20 Issued 18,000 shares 900,000 2,900,000 Dec. 31 Balance PAID-IN CAPITAL IN EXCESS OF PAR Jan. 1 Balance 320,000 Feb. 20 Issued 18,000 shares 216,000 Dec. 31 Balance 536,000 TREASURY STOCK July 19 Purchased 3,000 shares 144,000 RETAINED EARNINGS June 30 Dividend 50,000 Jan. 1 Balance Closing (net income) 3,480,000 Dec. 30 Dividend Dec. 31 50,000 510,000 3,890,000 Dec. 31 Balance
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Accounting
ISBN: 978-0324662962
23rd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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Stocks (also known as equities) are securities that represent ownership in a company. They are issued by companies to raise capital, and when an individual buys stocks, they become a shareholder in that company. Investing in stocks can be a way for individuals to potentially earn a return on their investment through dividends and capital appreciation. However, investing in stocks also carries a level of risk, as the value of the stock can fluctuate based on various factors such as the financial performance of the company and general market conditions. For companies, issuing stocks can be a way to raise funds for growth and expansion. When a company goes public by issuing an initial public offering (IPO), it can raise significant capital by selling ownership stakes to the public. Companies can also issue additional stock offerings to raise additional capital as needed.
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