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pashok25 [27]
3 years ago
11

At the beginning of 2021, Artichoke Academy reported a balance in common stock of $154,000 and a balance in retained earnings of

$54,000. During the year, the company issued additional shares of stock for $44,000, earned net income of $34,000, and paid dividends of $10,400. In addition, the company reported balances for the following assets and liabilities on December 31.
Assets Liabilities
Cash $52,600 Accounts payable $9,100
Supplies 13,400 Utilities payable 2,400
Prepaid rent 24,000 Salaries payable 3,500
Land 200,000 Notes payable 15,000

Required:
Prepare a statement of stockholders’ equity. Prepare a balance sheet.
Business
1 answer:
professor190 [17]3 years ago
4 0

Answer and Explanation:

The preparation of the statement of the stockholder equity and balance sheet would be shown in the attachment below:

The formulas for ending retained earning balance and stockholder equity  is

Ending retained earnings = Opening retained earnings + net income - dividend paid

And, the ending equity is

= Opening equity + additional shares

The same would be shown in the attachment

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1 year ago
During lewin's refreezing stage, managers should __________.
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The brainest answer would be appreciated.
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3 years ago
Oak Corp., a calendar-year corporation, was formed three years ago by its sole shareholder, Glover, and has always operated as a
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b. Long term capital gain of $7,000 ($15,000 - $8,000) will be recognized by Glover and his stock basis will be reduced from $8,000 to $0.

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The Classical Theory is based on the assumption that an economy has ______________ or, if nudged away, quickly returns to that c
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Answer:

Secured loan is as below

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