Question

Fill out the Stockholder's equity chart using the income statement // balance sheet

Answer IS NOT 216,841.73

Income Statement Debit Credit Adjusting Entries Debit Credit 25.00 6,225.00 1,392.00 275.00 Unadjusted Trial Balance Debit Credit 146,055.00 21,615.00 74.00 . 6,600.00 2,400.00 3,350.00 630.00 71,900.00 6,400.00 20,500.00 4,100.00 19,915.00 8,715.00 2,472.00 Account Number Name 1110 Cash 1120 Accounts Receivable 1121 Allowance for Doubtful Accounts 110 watt 1130 Prepaid Insurance wala 1140 Prepaid Rent 1150 Supplies 1160 Inventory 1211 Office Equipment 1212 Accum. Depr.-Office Equip 1311 Computer Equipment 1312 Accum. Depr.-Computer Equip. 2101 Accounts Payable 2102 Unearned Revenue wa 2103 Interest Payable School oya 2105 Salaries and Wages Payable 2106 Income Taxes Payable hola 2202 Notes Payable 2210 Bond Payable 2212 Premium on Bond Payable 3100 Common Stock Sumo 3120 Paid-In Capital in Excess of Par 3200 Retained Earnings 3300 Dividends Adjusted Trial Balance Debit Credit 146,080.00 27,840.00 1,318.00 6,325.00 2,400.00 878.00 630.00 71,900.00 12,866.67 20.500.00 8,200.00 23,040.00 8,715.00 21.60 1.230.00 Balance Sheet Debit Credit 146,080.00 27,840.00 1,318.00 6,325.00 2,400.00 878.00 630.00 71,900.00 12,866.67 20,500.00 8,200.00 23.040.00 8,715.00 21.60 1,230.00 6,466.67 4,100.00 3,125.00 21.60 1,230.00 4,320.00 4,320.00 4,320.00 112,200.00 20,400.00 24,000.00 112,200.00 20,400.00 24,000.00 112,200.00 20,400.00 24,000.00 2,040.00 2,040.00 2,040.00 451,739.00 6.250.00 457,989.00 457,989.00 - 1,230.00 28,800.00 96,350.00 4,760.00 15,055.00 - - - 4100 Sales Revenue 5010 Rent Expense 5020 Salaries and Wages Expense 5030 Advertising Expense 5040 Maintenance & Repairs Expense 5080 Supplies Expense 5090 Interest Expense 5100 Insurance Expense 5110 Depreciation Expense 5120 Bad Debt Expense 5140 Telephone and Internet Expensel 5150 Income Tax Expense 5300 Cost of Goods Sold 28,800.00 97,580.00 4,760.00 15,055.00 2,472.00 248 21.60 275.00 10,566.67 1,392.00 5,870.00 2,472.00 21.60 275.00 10,566.67 1,392.00 28,800.00 97,580.00 4,760.00 15,055.00 2,472.00 21.60 275.00 10,566.67 1,392.00 5,870.00 - - 5,870.00 - - 225,790.00 3,125.00 - 228,915.00 228,915.00 - 651,789.00 651,789.00 25,332.27 TOTAL NET INCOME Balance 25,332.27 674,300.27 674,300.27 395,707.27 457,989.00 278,593.00 216,311.27 62,281.73 62,281.73 457,989.00 457,989.00 278,593.00 278,593.00

Answer 1

Stockholder's equity statement provides changes in stockholder's equity during the year
Stockholder's equity statement is shown below:
	Common stock	Paid-in capital in excess of par	Retained earnings	Total stockholder's equity
Balance, beginning of period	$112,400.00	$20,400.00	$24,000.00	$156,800.00
Issue of common stock
Cash dividend			-$2,040.00	-$2,040.00
Net ncome			$62,281.73	$62,281.73
Balance, end of period	$112,400.00	$20,400.00	$84,241.73	$217,041.73
The details on issue of common stock is not given and thus it is assumed no stock common are issued