Question

Climate Control Systems Co. offers its services to residents in the Spokane area. Selected accounts from...

Climate Control Systems Co. offers its services to residents in the Spokane area. Selected accounts from the ledger of Climate Control Systems for the fiscal year ended December 31, 20Y2, are as follows:

Common Stock
Jan. 1 75,000
Feb. 15 25,000
Retained Earnings
Dec. 31 160,000 Jan. 1 (20Y2) 4,150,800
Dec. 31 700,000
Dividends
Mar. 31 40,000 Dec. 31 160,000
June 30 40,000
Sept. 30 40,000
Dec. 31 40,000
Required:
Prepare a statement of stockholders’ equity for the year. Refer to the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. If a net loss is incurred or dividends were paid, enter that amount as a negative number using a minus sign. Entries of 0 (zero) are not required and will be cleared if entered.
Labels
For the Year Ended December 31, 20Y2
June 30, 20Y9
Amount Descriptions
Balances, January 1, 20Y2
Balances, December 31, 20Y2
Dividends
Issued common stock
Net income
Net loss
Labels
For the Year Ended December 31, 20Y2
June 30, 20Y9
Amount Descriptions
Balances, January 1, 20Y2
Balances, December 31, 20Y2
Dividends
Issued common stock
Net income
Net loss

X

Statement of Stockholders’ Equity

Prepare a statement of stockholders’ equity for the year. Refer to the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. If a net loss is incurred or dividends were paid, enter that amount as a negative number using a minus sign. Entries of 0 (zero) are not required and will be cleared if entered.

Climate Control Systems Co.

Statement of Stockholders’ Equity

1

Common Stock

Retained Earnings

Total

2

3

4

5

6
Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Requirement:

Climate Control Systems Co
Statement of Stockholders` Equity
For the year ended December. 31, 20Y2
Common Stock Retained Earnings Total
Balances, January 1,20Y2 $              75,000 $              4,150,800 $ 4,225,800
Issued common stock $              25,000 $                              -   $        25,000
Net income $                       -   $                  700,000 $     700,000
Less: Dividends $                       -   $                (160,000) $   (160,000)
Balances, December 31,20Y2 $            100,000 $              4,690,800 $ 4,790,800
0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Statement of Stockholders' Equity The stockholders’ equity T accounts of I-Cards Inc. for the year ended...
Statement of Stockholders' Equity The stockholders’ equity T accounts of I-Cards Inc. for the year ended December 31, 20Y9, are as follows. Prepare a statement of stockholders’ equity for the year ended December 31, 20Y9. Common Stock Jan. 1 Balance 4,800,000 Apr. 14 Issued 30,000 shares 1,200,000 Dec. 31 Balance 6,000,000 Paid-In Capital in Excess of Par Jan. 1 Balance 960,000 Apr. 14 Issued 30,000 shares 300,000 Dec. 31 Balance 1,260,000 Treasury Stock Aug. 7 Purchased 12,000 shares 552,000 Retained...
Statement of Stockholders' Equity The stockholders’ equity T accounts of I-Cards Inc. for the fiscal year...
Statement of Stockholders' Equity The stockholders’ equity T accounts of I-Cards Inc. for the fiscal year ended December 31, 20Y9, are as follows. COMMON STOCK Jan. 1 Balance 1,800,000 Apr. 14 Issued 16,200 shares 810,000 Dec. 31 Balance 2,610,000 PAID-IN CAPITAL IN EXCESS OF PAR Jan. 1 Balance 288,000 Apr. 14 Issued 16,200 shares 194,400 Dec. 31 Balance 482,400 TREASURY STOCK Aug. 7 Purchased 2,700 shares 129,600 RETAINED EARNINGS Mar. 31 Dividend 46,000 Jan. 1 Balance 3,130,000 June. 30 Dividend...
The stockholders’ equity T accounts of I-Cards Inc. for the fiscal year ended December 31, 20Y9,...
The stockholders’ equity T accounts of I-Cards Inc. for the fiscal year ended December 31, 20Y9, are as follows. COMMON STOCK Jan. 1 Balance 1,600,000 Apr. 14 Issued 14,400 shares 720,000 Dec. 31 Balance 2,320,000 PAID-IN CAPITAL IN EXCESS OF PAR Jan. 1 Balance 256,000 Apr. 14 Issued 14,400 shares 172,800 Dec. 31 Balance 428,800 TREASURY STOCK Aug. 7 Purchased 2,400 shares 115,200 RETAINED EARNINGS Mar. 31 Dividend 41,000 Jan. 1 Balance 2,780,000 June. 30 Dividend 41,000 Dec. 31 Closing...
The stockholders’ equity T accounts of I-Cards Inc. for the fiscal year ended December 31, 20Y9,...
The stockholders’ equity T accounts of I-Cards Inc. for the fiscal year ended December 31, 20Y9, are as follows. COMMON STOCK Jan. 1 Balance 2,100,000 Apr. 14 Issued 19,200 shares 960,000 Dec. 31 Balance 3,060,000 PAID-IN CAPITAL IN EXCESS OF PAR Jan. 1 Balance 336,000 Apr. 14 Issued 19,200 shares 230,400 Dec. 31 Balance 566,400 TREASURY STOCK Aug. 7 Purchased 3,200 shares 153,600 RETAINED EARNINGS Mar. 31 Dividend 54,000 Jan. 1 Balance 3,650,000 June. 30 Dividend 54,000 Dec. 31 Closing...
The stockholders’ equity T accounts of I-Cards Inc. for the fiscal year ended December 31, 20Y9,...
The stockholders’ equity T accounts of I-Cards Inc. for the fiscal year ended December 31, 20Y9, are as follows. COMMON STOCK Jan. 1 Balance 1,800,000 Apr. 14 Issued 16,200 shares 810,000 Dec. 31 Balance 2,610,000 PAID-IN CAPITAL IN EXCESS OF PAR Jan. 1 Balance 288,000 Apr. 14 Issued 16,200 shares 194,400 Dec. 31 Balance 482,400 TREASURY STOCK Aug. 7 Purchased 2,700 shares 129,600 RETAINED EARNINGS Mar. 31 Dividend 46,000 Jan. 1 Balance 3,130,000 June. 30 Dividend 46,000 Dec. 31 Closing...
Statement of Stockholders' Equity The stockholders’ equity T accounts of I-Cards Inc. for the year ended...
Statement of Stockholders' Equity The stockholders’ equity T accounts of I-Cards Inc. for the year ended December 31, 20Y9, are as follows. Common Stock Jan. 1 Balance 800,000 Apr. 14 Issued 9,000 shares 360,000 Dec. 31 Balance 1,160,000 Paid-In Capital in Excess of Par Jan. 1 Balance 128,000 Apr. 14 Issued 9,000 shares 72,000 Dec. 31 Balance 200,000 Treasury Stock Aug. 7 Purchased 1,500 shares 55,500 Retained Earnings Mar. 31 Dividend 20,000 Jan. 1 Balance 1,390,000 June. 30 Dividend 20,000...
On March 31, 20Y9, the balances of the accounts appearing in the ledger of Royal Furnishings...
On March 31, 20Y9, the balances of the accounts appearing in the ledger of Royal Furnishings Company, a furniture store, are as follows: Accounts Receivable $160,250 Accumulated Depreciation-Building 742,600 Administrative Expenses 515,600 Building 2,552,350 Cash 183,850 Common Stock 295,050 Cost of Goods Sold 3,903,350 Dividends 185,250 Interest Expense 10,200 Inventory 1,000,900 Notes Payable 254,900 Office Supplies 20,350 Retained Earnings 1,315,950 Salaries Payable 8,050 Sales 6,618,600 Selling Expenses 706,050 Store Supplies 86,700 A. Prepare a multiple-step income statement for the fiscal...
Chapter 12 - 11 Statement of The owners' equity in a corporation.Stockholders' Equity The stockholders’ equity...
Chapter 12 - 11 Statement of The owners' equity in a corporation.Stockholders' Equity The stockholders’ equity T accounts of I-Cards Inc. for the year ended December 31, 20Y9, are as follows. Common Stock Jan. 1 Balance 1,700,000 Apr. 14 Issued 15,600 shares 780,000 Dec. 31 Balance 2,480,000 Paid-In Capital in Excess of Par Jan. 1 Balance 272,000 Apr. 14 Issued 15,600 shares 187,200 Dec. 31 Balance 459,200 Treasury Stock Aug. 7 Purchased 2,600 shares 124,800 Retained Earnings Mar. 31 Dividend...
PLEASE USE THE CHART PROVIDED Sumter Pumps Corporation, a manufacturer of industrial pumps, reports the following...
PLEASE USE THE CHART PROVIDED Sumter Pumps Corporation, a manufacturer of industrial pumps, reports the following results for the year ended December 31, 20Y3: Retained earnings, January 1, 20Y3 $60,583,000 Net income 7,466,000 Cash dividends declared 1,001,000 Stock dividends declared 2,607,000 Prepare a retained earnings statement for the year ended December 31, 20Y3. Be sure to complete the statement heading. Refer to the lists of Labels and Amount Descriptions provided for the exact wording of the answer choices for text...
The stockholders’ equity T accounts of I-Cards Inc. for the year ended December 31, 20Y9, are...
The stockholders’ equity T accounts of I-Cards Inc. for the year ended December 31, 20Y9, are as follows. Common Stock Jan. 1 Balance 700,000 Apr. 14 Issued 10,800 shares 324,000 Dec. 31 Balance 1,024,000 Paid-In Capital in Excess of Par Jan. 1 Balance 112,000 Apr. 14 Issued 10,800 shares 75,600 Dec. 31 Balance 187,600 Treasury Stock Aug. 7 Purchased 1,800 shares 50,400 Retained Earnings Mar. 31 Dividend 18,000 Jan. 1 Balance 1,220,000 June. 30 Dividend 18,000 Dec. 31 Closing Sept....
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT