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mash [69]
3 years ago
8

At the beginning of the year (January 1), Buffalo Drilling has $10,000 of common stock outstanding and retained earnings of $7,0

00. During the year, Buffalo reports net income of $7,300 and pays dividends of $2,000. In addition, Buffalo issues additional common stock for $6,800.Prepare the statement of Shareholer'sequity in the end of the year.
Business
1 answer:
GarryVolchara [31]3 years ago
3 0

Answer:

Shareholders Equity  

INITIAL Shareholders Equity  $ 17.000

Common Stock  $ 6.800

Retained Earnings  $ 5.300

FINAL Shareholders Equity $ 29.100

Explanation:

Retained Earnings Report  

Opening retained earnings $ 7,000

Add: Net Income $ 7,300

Subtotal $ 14,300

Less: Dividens -$ 2,000

Total $ 12,300

Stockholders' Equity   INITIAL   FINAL  

Common Stock  $ 10,000 $ 16,800    

Retained Earnings  $ 7,000 $ 12,300

TOTAL EQUITY  $ 17,000 $ 29,100

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In the given case, the judge believes that the time period set for avoiding the competition is unusually long. Thus, they can reform the contract to make it suitable and justified for all the parties involved.

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It is true that the general increase in prices over time we pay for goods and services is known as inflation.

<h3>What is inflation?</h3>

Inflation is the term used to describe an increase in the price of goods and services that households buy. It is determined by how quickly these prices fluctuate. Prices frequently rise with time, but they can also fall (a situation called deflation).

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Should companies hire only people who represent the company image based on how they look?
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Answer:

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