The stockholders' equity section of Barrel Corporation's balance sheet at December 31, 2017, appears below: During 2018, the following stock transactions occurred: Instructions
(a) Prepare the journal entries to record the above stock transactions.
(b) Prepare the stockholders' equity section of the balance sheet for Barrel Corporation at December 31, 2018. Assume that net income for the year was $150,000 and that no dividends were declared.

Question

The stockholders' equity section of Barrel Corporation's balance sheet at December 31, 2017, appears below:  During 2018, the following stock transactions occurred:  Instructions
(a) Prepare the journal entries to record the above stock transactions.
(b) Prepare the stockholders' equity section of the balance sheet for Barrel Corporation at December 31, 2018. Assume that net income for the year was $150,000 and that no dividends were declared.

Quizplus · Accepted Answer

The Answer of The stockholders' equity section of Barrel Corporation's balance sheet at December 31, 2017, appears below:  During 2018, the following stock transactions occurred:  Instructions
(a) Prepare the journal entries to record the above stock transactions.
(b) Prepare the stockholders' equity section of the balance sheet for Barrel Corporation at December 31, 2018. Assume that net income for the year was $150,000 and that no dividends were declared.

The Stockholders' Equity Section of Barrel Corporation's Balance Sheet at December