Whitney Water Company reported the following items on its statement of shareholders equity for the year ended
Question:
Whitney Water Company reported the following items on its statement of shareholders’ equity for the year ended December 31, 2014 (amounts in thousands of $):
Requirements
1. Determine the December 31, 2014, balances in Whitney Water’s shareholders’ equity accounts and total shareholders’ equity on this date.
2. Whitney Water’s total liabilities on December 31, 2014, are $7,800. What is Whitney Water’s debt ratio on this date?
3. Was there a profit or a loss for the year ended December 31, 2014? How can you tell?
4. At what price per share did Whitney Water issue common stock during2014?
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...
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Related Book For
Financial Accounting
ISBN: 978-0133427530
10th edition
Authors: Walter Harrison, Charles Horngren, William Thomas
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