On January 1, 2010, Yadier Inc. had the following stockholders' equity account balances. Common Stock, nopar value (509,000 shares issued) $1,527,000...
On January 1, 2010, Yadier Inc. had the following stockholders' equity account balances.
| | $1,527,000 | ||
| Common Stock Dividends Distributable | 211,000 | ||
| Retained Earnings | 636,000 | ||
During 2010, the following transactions and events occurred.
Issued 55,990 shares of common stock as a result of a 11 % stock dividend declared on December 15, 2009.
Issued 28,000 shares of common stock for cash at $6 per share.
Corrected an error that had understated the net income for 2008 by $72,000.
Declared and paid a cash dividend of $77,000.
Earned net income of $334,000.
Instructions
Prepare the stockholders' equity section of the balance sheet at December 31, 2010.
| YADIER INC. | |
| Stockholders' Equity Section of Balance Sheet | |
| December 31, 2010 | |
| Stockholders' equity | |
| Paid-in capital | |
| Capital stock | |
| Common stock, no-par value, | |
|
| $ |
| Retained earnings | |
| Total stockholders' equity | $ |
shares issued and outstanding
