For the year ending December 31,2010,the accounts of Jackson Corporation showed the following balances:
$$\begin{array} { l r }
\text { Contributed capital, January } 1,2010 & \$ 500,000 \
\text { Retained earnings, beginning balance, January } 1,2010 & \$ 100,000 \
\text { Total revenues earned during 2010 } & \$ 150,000 \
\text { Total expenses incurred during } 2010 & \$ 90,000 \
\text { Total dividends declared during } 2010 & \$ 10,000 \
\text { Issuance of stock during 2010 } & \$ 50,000
\end{array}$$ Requirement:
Determine the components of stockholders' equity as of December 31,2010.

Question

For the year ending December 31,2010,the accounts of Jackson Corporation showed the following balances:
 $$\begin{array} { l r } 
\text { Contributed capital, January } 1,2010 & \$ 500,000 \
\text { Retained earnings, beginning balance, January } 1,2010 & \$ 100,000 \
\text { Total revenues earned during 2010 } & \$ 150,000 \
\text { Total expenses incurred during } 2010 & \$ 90,000 \
\text { Total dividends declared during } 2010 & \$ 10,000 \
\text { Issuance of stock during 2010 } & \$ 50,000
\end{array}$$ Requirement:
 Determine the components of stockholders' equity as of December 31,2010.

Quizplus · Accepted Answer

The Answer of For the year ending December 31,2010,the accounts of Jackson Corporation showed the following balances:
 $$\begin{array} { l r } 
\text { Contributed capital, January } 1,2010 & \$ 500,000 \
\text { Retained earnings, beginning balance, January } 1,2010 & \$ 100,000 \
\text { Total revenues earned during 2010 } & \$ 150,000 \
\text { Total expenses incurred during } 2010 & \$ 90,000 \
\text { Total dividends declared during } 2010 & \$ 10,000 \
\text { Issuance of stock during 2010 } & \$ 50,000
\end{array}$$ Requirement:
 Determine the components of stockholders' equity as of December 31,2010.

For the Year Ending December 31,2010,the Accounts of Jackson Corporation