Presented below is financial data for Thomas & Co. as of year-end 2013 Cash: $22

ID: 2338811 • Letter: P

Question

Presented below is financial data for Thomas & Co. as of year-end 2013
Cash: $22000 Retained earnings, January 1, 2013: $32000 Building: $50000 Common stock: $106000 Accrued expenses payable: $14000 Dividends paid: $30000 Inventory: $20000 Net income: $66000 Stockholders’ equity, January 1, 2013: $138000 Retained Earnings, December 31, 2013: ? Stockholders’ equity, December 31, 2013: $174000
Prepare a statement of stockholders’ equity for Thomas & Co. as of December 31, 2013 Presented below is financial data for Thomas & Co. as of year-end 2013
Cash: $22000 Retained earnings, January 1, 2013: $32000 Building: $50000 Common stock: $106000 Accrued expenses payable: $14000 Dividends paid: $30000 Inventory: $20000 Net income: $66000 Stockholders’ equity, January 1, 2013: $138000 Retained Earnings, December 31, 2013: ? Stockholders’ equity, December 31, 2013: $174000
Prepare a statement of stockholders’ equity for Thomas & Co. as of December 31, 2013
Cash: $22000 Retained earnings, January 1, 2013: $32000 Building: $50000 Common stock: $106000 Accrued expenses payable: $14000 Dividends paid: $30000 Inventory: $20000 Net income: $66000 Stockholders’ equity, January 1, 2013: $138000 Retained Earnings, December 31, 2013: ? Stockholders’ equity, December 31, 2013: $174000
Prepare a statement of stockholders’ equity for Thomas & Co. as of December 31, 2013

Explanation / Answer

Answer

Statement of Stockholder's Equity as of Dec 31, 2013

Common Stock

Retained Earnings

Total Stockholder's Equity

Balance jan 1, 2013

$ 106,000.00

$ 32,000.00

$ 138,000.00

Net Income

$ 66,000.00

Dividends

$ (30,000.00)

Balance Dec 31, 2013

$ 106,000.00

$ 68,000.00

$ 174,000.00