Homework answers / question archive / Statement of Stockholders' Equity - two (2) questions Instructions: Please prepare a statement of Stockholders' Equity on your scratch paper based on the following Partial Adjusted Trial Balance

Statement of Stockholders' Equity - two (2) questions Instructions: Please prepare a statement of Stockholders' Equity on your scratch paper based on the following Partial Adjusted Trial Balance

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Statement of Stockholders' Equity - two (2) questions Instructions: Please prepare a statement of Stockholders' Equity on your scratch paper based on the following Partial Adjusted Trial Balance. Use this statement of Stockholders' Equity to answer this question and the next question. You will need to know the amounts for ending retained earnings and the new total ending balance for stockholders' equity. Question: Based on the Adjusted Trial Balance and Additional Info shown below, what is the ending balance as of 12/31 for the Retained Earnings column as shown on the Statement of Stockholders' Equity you prepared on your scratch paper? Adjusted Trial Balance As of 12/31/20xx Account Balance Accounts $25,569 24,500 3.581 Cash Accounts Receivable Allowance for Uncollectible Accounts Inventory Accounts Payable Common Stock Retained Earnings Dividends Revenue Sales Discounts 35,000 10,173 10,151 15.146 15.000 75,000 1.500
124,500 3,581 Accounts Receivable Allowance for Uncollectible Accounts Inventory Accounts Payable Common Stock Retained Earnings Dividends Revenue Sales Discounts Cost of Goods Sold Salaries Expense Interest Expense Income Tax Expense 35,000 10,173 140,151 15,146 5,000 75,000 1,500 40,000 5,000 14,000 |3,000 Question:Based on the Adjusted Trial Balance and Additional Info shown below, what is the ending balance as of 12/31 for the Retained Earnings column as shown on the Statement of Stockholders' Equity you prepared on your scratch paper? Additional Information: Net Income After-taxes for the Accounting Period equaled $21,500 Beginning Balance of Common Stock on 1/1/20xx $40.151 Beginning Balance of Retained Earnings on 1/1/20xx $15.146 No new stock was issued during the accounting period. Fill in the blank with your calculated number. DO NOT include commas, $ signs, period, decimal points, etc., just enter the raw number. Webcourses will add commas to your answer automatically. For example, if you calculated the answer to be $24,123, you would only input: 24123
Statement of Stockholders' Equity Question: Based on the Statement of Stockholders' Equity you prepared on your scratch paper, what is the Total Stockholders' Equity (total of the ending balances for both common stock and retained earnings) shown on the Statement of Stockholders' Equity you prepared on your scratch paper? Fill in the blank with your calculated number. DO NOT include commas, $ signs, period, decimal points, etc., just enter the raw number. Webcourses will add commas to your answer automatically For example, if you calculated the answer to be $24,123, you would only input: 24123