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nordsb [41]
3 years ago
8

Statement of stockholders' equity Financial information related to All Seasons Company for the month ended June 30, 20Y7, is as

follows:_______.
Common stock, June 1, 20Y7 $30,000
Stock issued in June 20,000
Net income for June 87,500
Dividends during June 15,000
Retained earnings, June 1, 20Y7 145,000
Prepare a statement of stockholders' equity for the month ended June 30, 20Y7. If an amount is zero, enter "0"
Business
1 answer:
rodikova [14]3 years ago
4 0

Answer:

Stockholders' equity  is $267,500.

Explanation:

Note: See the attached excel file for the statement of stockholders' equity.

The following are used to confirm the figures in the ayyached excel file:

Seasons Company

Statement of Stockholders' Equity

for the month ended June 30, 20Y7

<u>Particular                                        Amount ($)       </u>

Common stock (w.1)                          50,000    

Retained earnings (w.2)                <u>   217,500  </u>

Stockholders' equity                    <u>    267,500   </u>

Workings:

w.1: Common stock June 30, 20Y7 = Common stock, June 1, 20Y7 + Stock issued in June = $30,000 + $20,000 = $50,000

w2: Retained earnings June 30, 20Y7 = Retained earnings, June 1, 20Y7 + Net income for June - Dividends during June = $145,000 + $87,500 - $15,000 = $217,500

Download xlsx
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Answer:

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