Westcock Shipbuilding Ltd. has a December 31 year end. On January 1, 2021, the company had the following shareholder's equity accounts. Westcock Shipbuilding Ltd. had the following transactions during 2021:
The company reported a profit of $ 450,000 and other comprehensive income of $ 15,000 for 2021.
Instructions
a) Record all of the transactions.
b) Prepare the Statement of Changes in Shareholders' Equity.

Question

Westcock Shipbuilding Ltd. has a December 31 year end. On January 1, 2021, the company had the following shareholder's equity accounts.  Westcock Shipbuilding Ltd. had the following transactions during 2021:
  The company reported a profit of $ 450,000 and other comprehensive income of $ 15,000 for 2021.
Instructions 
a) Record all of the transactions.
b) Prepare the Statement of Changes in Shareholders' Equity.

Quizplus · Accepted Answer

The Answer of Westcock Shipbuilding Ltd. has a December 31 year end. On January 1, 2021, the company had the following shareholder's equity accounts.  Westcock Shipbuilding Ltd. had the following transactions during 2021:
  The company reported a profit of $ 450,000 and other comprehensive income of $ 15,000 for 2021.
Instructions 
a) Record all of the transactions.
b) Prepare the Statement of Changes in Shareholders' Equity.