On its December 31,2012,balance sheet,Houston Corporation reported its stockholders' equity as follows:
During 2013,the following transactions occurred:
Reacquired 2,500 shares at $7 per share.
Issued 5,000 shares of common stock at $8 per share.
Cash dividends of $1 per share of common stock.
Net income for 2013 amounted to $80,000.No dividends were declared.
Prepare the Statement of Stockholders' Equity as it should appear on December 31,2013.

Question

On its December 31,2012,balance sheet,Houston Corporation reported its stockholders' equity as follows:
  During 2013,the following transactions occurred:
Reacquired 2,500 shares at $7 per share.
Issued 5,000 shares of common stock at $8 per share.
Cash dividends of $1 per share of common stock.
Net income for 2013 amounted to $80,000.No dividends were declared.
Prepare the Statement of Stockholders' Equity as it should appear on December 31,2013.

Quizplus · Accepted Answer

The Answer of On its December 31,2012,balance sheet,Houston Corporation reported its stockholders' equity as follows:
  During 2013,the following transactions occurred:
Reacquired 2,500 shares at $7 per share.
Issued 5,000 shares of common stock at $8 per share.
Cash dividends of $1 per share of common stock.
Net income for 2013 amounted to $80,000.No dividends were declared.
Prepare the Statement of Stockholders' Equity as it should appear on December 31,2013.

On Its December 31,2012,balance Sheet,Houston Corporation Reported Its Stockholders' Equity