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Strike441 [17]
2 years ago
14

At the beginning of the year (January 1), Maurice and Sons has $16,300 of common stock outstanding and retained earnings of $2,2

00. During the year, the company reports net income of $3,410 and pays dividends of $1,550. In addition, the company issues additional common stock for $5,800.
Required: Prepare the statement of stockholders' equity at the end of the year (December 31).
Business
1 answer:
Marianna [84]2 years ago
4 0

Answer:

See below

Explanation:

Maurice and Sons

Statement of stockholder's equity at the end of the year (December 31)

Particulars Common stock

Retained earnings Total

Beginning

Balance $16,300

$2,200. $18,500

Net income

$3,410. $3,410

Dividend paid

-$1,550. -$1,550

Additional common

Stock $5,800. $5,800

Total

$4,060. $22,100. $26,160

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Answer:

$84,150

Explanation:

Given that

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The computation of the amount of account receivable that should be recorded is shown below:      

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Jacques lives in San Diego and runs a business that sells boats. In an average year, he receives $728,000 from selling boats. Of
Gwar [14]

Answer:

1. <u>implicit cost</u>

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3. <u>implicit cost</u>

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In the given case, the foregone rental income Jacques would've earned had he chosen to rent out his showroom represents opportunity cost or implicit cost.

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