Westcock Shipbuilding Ltd. has a December 31 year end. On January 1, 2013, the company had the following shareholder's equity accounts. Westcock Shipbuilding Ltd. had the following transactions during 2013:
The company reported a profit of $450,000 and other comprehensive income of $15,000 for 2013.
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, 2013, the company had the following shareholder's equity accounts.  Westcock Shipbuilding Ltd. had the following transactions during 2013:
  The company reported a profit of $450,000 and other comprehensive income of $15,000 for 2013.
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, 2013, the company had the following shareholder's equity accounts.  Westcock Shipbuilding Ltd. had the following transactions during 2013:
  The company reported a profit of $450,000 and other comprehensive income of $15,000 for 2013.
Instructions 
a. Record all of the transactions.
b. Prepare the Statement of Changes in Shareholders' Equity.