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The annual report for Malibu Beachwear reported the following transactions affecting stockholders’ equity:_______
A. Purchased $351,800 of common stock now held in treasury.
B. Declared cash dividends in the amount of $260,900.
C. Paid the dividends in (b).
D. Issued 118,000 new shares of $0.10 par value common shares for $2 per share.
E. Closed the Dividends account.
Prepare a statement of stockholders’ equity, assuming the following opening balances.

Respuesta :

jepessoa

Answer:

                       Common  Additional Paid  Retained  Treasury  

                       Stock               in Capital               Earnings          Stock

Beginning $12,500         $190,000        $150,000         $0

Stock Issuances    

Net Income                                          $270,000  

Dividends: Common    

Ending

I prepared an excel spreadsheet because there is not enough room here.

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