Solution-Prepare the statement of stockholders equity for

Prepare the statement of stockholders equity for Company A

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Reference no: EM133053659

Question - Company A designs and produces a line of golf equipment and golf apparel. Company A has 100,000 shares of common stock outstanding as of the beginning of Year 1. Company A has the following transactions affecting stockholders' equity in Year 1.

March 1 Issues 54, 000 additional shares of $1 par value common stock for $51 per share.

May 10 Purchases 4,900 shares of treasury stock for $54 per share.

June 1 Declares a cash dividend of $1.45 per share to all stockholders of record on June 15. (Hint: Dividends are not paid on treasury stock.)

July 1 Pays the cash dividend declared on June 1.

October 21 Resells 2, 450 shares of treasury stock purchased on May 10 for $59 per share.

Company A has the following beginning balances in its stockholders' equity accounts on January 1, Year 1: Common Stock, $100,000; Additional Paid-in Capital, $4,400,000; and Retained Earnings, $1,900,000. Net income for the year ended December 31, Year 1, is $590,000.

Required - Prepare the statement of stockholders' equity for Company A for the year ended December 31, Year 1.

Reference no: EM133053659

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Prepare the statement of stockholders equity for Company A

Reference no: EM133053659

Reference no: EM133053659

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