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Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of $660 were declared at the end of the year, and 500 additional shares of common stock ($0.10 par value per share) were issued at the end of the year for $3,240 in cash (for a total at the end of the year of 920 shares). These effects are included below: Catena's Marketing Company Adjusted Trial Balance End of the Current Year Cash Accounts receivable Interest receivable Prepaid insurance Long-term notes receivable Equipment Accumulated depreciation Accounts payable Dividends payable Accrued expenses payable Income taxes payable Unearned rent revenue Common Stock (920 shares) Additional paid-in capital Debit $1,560 2,320 124 1,720 3,400 16,490 Credit $3,240 2,640 660 4,040 1,824 560 92 3,740

Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of $660 were declared at the end of the year, and 500 additional shares of common stock ($0.10 par value per share) were issued at the end of the year for $3,240 in cash (for a total at the end of the year of 920 shares). These effects are included below: Catena's Marketing Company Adjusted Trial Balance End of the Current Year Cash Accounts receivable Interest receivable Prepaid insurance Long-term notes receivable Equipment Accumulated depreciation Accounts payable Dividends payable Accrued expenses payable Income taxes payable Unearned rent revenue Common Stock (920 shares) Additional paid-in capital Debit $1,560 2,320 124 1,720 3,400 16,490 Credit $3,240 2,640 660 4,040 1,824 560 92 3,740

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter21: The Statement Of Cash Flows
Section: Chapter Questions
Problem 16P: Comprehensive The following are Farrell Corporations balance sheets as of December 31, 2019, and...
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Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of $660 were declared at the end of the year, and 500 additional shares of common stock ($0.10 par value per share) were issued at the end of the year for $3,240 in cash (for a total at the end of the year of 920 shares). These effects are included below: Catena's Marketing Company Adjusted Trial Balance End of the Current Year Cash Accounts receivable Interest receivable Prepaid insurance Long-term notes receivable Equipment Accumulated depreciation Accounts payable Dividends payable Accrued expenses payable Income taxes payable Unearned rent revenue Common Stock (920 shares) Additional paid-in capital Retained earnings Sales revenue Rent revenue Interest revenue Wages expense Depreciation expense Utilities expense Insurance expense Rent expense Income tax expense Total Balance, January 1 Net income Share issuance Dividends declared Balance, December 31 ✓ ✓ ✓ Debit $1,560 2,320 124 1,720 3,400 16,490 20,700 2,040 $ 428 858 Prepare a statement of stockholders' equity for the current year. Note: Reductions in account balances should be indicated with a minus sign. Common Stock Credit $3,240 2,640 660 4,040 1,824 42 $ 560 92 9,240 1,800 $60,680 $60,680 50 ✓ 3,740 1,640 41,260 860 124 CATENA'S MARKETING COMPANY Statement of Stockholders' Equity For the current year Additional Paid-in Capital Answer is not complete. 730 Retained Earnings $ 2,120 7,178 $ Total Stockholders' Equity 2,892 7,178
Transcribed Image Text:Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of $660 were declared at the end of the year, and 500 additional shares of common stock ($0.10 par value per share) were issued at the end of the year for $3,240 in cash (for a total at the end of the year of 920 shares). These effects are included below: Catena's Marketing Company Adjusted Trial Balance End of the Current Year Cash Accounts receivable Interest receivable Prepaid insurance Long-term notes receivable Equipment Accumulated depreciation Accounts payable Dividends payable Accrued expenses payable Income taxes payable Unearned rent revenue Common Stock (920 shares) Additional paid-in capital Retained earnings Sales revenue Rent revenue Interest revenue Wages expense Depreciation expense Utilities expense Insurance expense Rent expense Income tax expense Total Balance, January 1 Net income Share issuance Dividends declared Balance, December 31 ✓ ✓ ✓ Debit $1,560 2,320 124 1,720 3,400 16,490 20,700 2,040 $ 428 858 Prepare a statement of stockholders' equity for the current year. Note: Reductions in account balances should be indicated with a minus sign. Common Stock Credit $3,240 2,640 660 4,040 1,824 42 $ 560 92 9,240 1,800 $60,680 $60,680 50 ✓ 3,740 1,640 41,260 860 124 CATENA'S MARKETING COMPANY Statement of Stockholders' Equity For the current year Additional Paid-in Capital Answer is not complete. 730 Retained Earnings $ 2,120 7,178 $ Total Stockholders' Equity 2,892 7,178
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A statement of stockholder's equity is one of the financial statements that show the total investment of the owners and the changes made at the end of the year due to net income and dividends. 

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