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Fundamentals of Financial Accounting 4th Edition by Fred Phillips,Robert Libby,Patricia Libby
Edition 4ISBN: 978-0078025372Fundamentals of Financial Accounting 4th Edition by Fred Phillips,Robert Libby,Patricia Libby
Edition 4ISBN: 978-0078025372 Exercise 60
Preparing a Statement of Stockholders' Equity
On December 31, 2011, WER Productions reported $100,000 of contributed capital and $20,000 of retained earnings. During 2012, the company had the following transactions. Prepare a statement of stockholders' equity for the year ended December 31, 2012.
a. Issued stock for $50,000.
b. Declared and paid a cash dividend of $5,000.
c. Reported total revenue of $ 120,000 and total expenses of $87,000.
On December 31, 2011, WER Productions reported $100,000 of contributed capital and $20,000 of retained earnings. During 2012, the company had the following transactions. Prepare a statement of stockholders' equity for the year ended December 31, 2012.
a. Issued stock for $50,000.
b. Declared and paid a cash dividend of $5,000.
c. Reported total revenue of $ 120,000 and total expenses of $87,000.
Explanation
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Stockholders' equity:
Stockholders' equ...
Fundamentals of Financial Accounting 4th Edition by Fred Phillips,Robert Libby,Patricia Libby
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