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saul85 [17]
3 years ago
11

CBA Company reported total stockholders' equity of $76,000 on its balance sheet dated December 31, 2018. During the year ended D

ecember 31, 2019, CBA reported net income of $11,900, declared and paid a cash dividend of $3,900, and issued additional common stock for $11,000. What is total stockholders' equity as of December 31, 2019
Business
1 answer:
siniylev [52]3 years ago
7 0

Answer:

$95,000

Explanation:

Calculation to determine What is total stockholders' equity as of December 31, 2019

Using this formula

Total stockholders' equity=Total stockholders' equity+Net income-Cash dividend+Additional common stock

Let plug in the formula

December 31, 2019 stockholders’ equity=$76,000+$11,900-$3,900+$11,000

December 31, 2019 stockholders’ equity=$95,000

Therefore total stockholders' equity as of December 31, 2019 is $95,000

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Read 2 more answers
This information relates to Ayayai Real Estate Agency.
posledela

Answer:

Oct. 1

Dr Increase Assets

Dr Cash $29,100

Cr Increase stockholders'equity

Cr Common stock $29,100

Oct. 2

Dr No Effect

Dr No Effect $0

Cr No Effect

Cr No Effect $0

Oct. 3

Dr Increase Assets

Dr Office furniture $3,610

Cr Increase Liabilities

Cr Accounts payable $3,610

Oct. 6

Dr Increase Assets

Dr Accounts receivable $10,000

Cr Increase Revenues

Cr Service revenue $10,000

Oct. 10

Dr Increase Assets

Dr Cash $130

Cr Increase Revenues

Cr Service revenue $130

Oct. 27

Dr Decrease Liabilities

Dr Accounts payable $600

Cr Decrease Assets

Cr Cash $600

Oct. 30

Dr Increase Expenses

Dr Salaries and wages expense $2,500

Cr Decrease Assets

Cr Cash $2,500

Explanation:

Preparation of the debit-credit analysis for each transaction.

Oct. 1

Dr Increase Assets

Dr Cash $29,100

Cr Increase stockholders'equity

Cr Common stock $29,100

(Being To record common stock)

Oct. 2

Dr No Effect

Dr No Effect $0

Cr No Effect

Cr No Effect $0

Oct. 3

Dr Increase Assets

Dr Office furniture $3,610

Cr Increase Liabilities

Cr Accounts payable $3,610

( Being To record purchase of office furniture)

Oct. 6

Dr Increase Assets

Dr Accounts receivable $10,000

Cr Increase Revenues

Cr Service revenue $10,000

( Being To record service revenue)

Oct. 10

Dr Increase Assets

Dr Cash $130

Cr Increase Revenues

Cr Service revenue $130

(Being To record service revenue)

Oct. 27

Dr Decrease Liabilities

Dr Accounts payable $600

Cr Decrease Assets

Cr Cash $600

(Being To record payment of office furniture)

Oct. 30

Dr Increase Expenses

Dr Salaries and wages expense $2,500

Cr Decrease Assets

Cr Cash $2,500

(Being To record salaries expense)

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