Question

8. Slate Corporation had the following balances in its stockholders' equity accounts at December 31, 2015: $200,000 Common Stock, $10 par, 500,000 shares authorized, 20,000 shares issued Paid-in Capital in Excess of Par Value, Common Retained Earnings Treasury Stock, 1.000 shares Total stockholders' equity 250,000 500,000 (20,000) $930,000 The following transactions occurred during 2016: February 3 Sold and issued 2,000 shares of common stock for $22 per share. May 10 Declared a $0.50 per share dividend on common stock October 12 Sold 500 shares of the treasury stock for $20 per share. December 31 Net income for the year was determined to be $75,000. Based on the above information, prepare a statement of stockholders' equity for 2016. Use the form below. Slate Corporation Statement of Stockholders' Equity December 31, 2016 Common Paid-in Capital in Retained Treasury Total Stock Excess of Par Value, Earnings Stock Equity Common Balance, $200,000 $250,000 $500,000 $120,000) $930,000 December 31, 2015

Answer 1

​​​​​​

statement of stockholder's Equity Common Paid-in Capital Retained Treasury stock in Eucess of not Pat value, como Earnings Stock / Equity Common Balance *32. $ 200,000 $250,000 $500,000 $(29000) #920,000 December 31, 2015 New issue $ 20,000 2000110) $24,000 (2000 X (2276) May 10 Dividend (11,090) (22,000 x.) 0.5% $ 10,000 Detober 12 freaury shor ve issue December-31 Net Income Balance bet 3% $220,000 I 2016 $75,000 $274,000 $564000 ($10,000 $1, OLIS, 000