Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of $580 were declared at the end of the year, and 580 additional shares of common stock ($0.10 par value per share) were issued at the end of the year for $2,320 in cash (for a total at the end of the year of 810 shares). These effects are included below: The adjusted trial balance is in the pictures as is the format for the answer. CATENA'S MARKETING COMPANYStatement of Stockholders' EquityFor the current yearCommonStockTotalStockholders'EquityAdditionalRetainedPaid-in CapitalEarningsBalance, January 1Share issuance$2358Net incomeDividends declaredBalance, December 31 Catena's Marketing CompanyAdjusted Trial BalanceEnd of the Current YearDebit$ 1,5702,260CreditCashAccounts receivableInterest receivable170Prepaid insuranceLong-term notes receivableEquipmentAccumulated depreciationAccounts payableDividends payableAccrued expenses payableIncome taxes payable1,7902,83015,400$ 2,8302,3905803,8602,530Unearned rent revenue370Common Stock (810 shares)Additional paid-in capitalRetained earnings813,4693,92036,650Sales revenueInterest revenue110Rent revenue670Wages expenseDepreciation expenseUtilities expense18,2001,710400Insurance expense770Rent expense9,6002,760Income tax expenseTotal$ 57,460 $57,460

Statement of Stockholder's Equity is a summary reports which contains the Opening Balance and…

Answered: Catena's Marketing Company has the…

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter12: Corporations: Organization, Stock Transactions, And Dividends

Section: Chapter Questions

Problem 22E: Statement of stockholders equity The stockholders equity T accounts of I-Cards Inc. for the year...

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Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of $580 were declared at the end of the year, and 580 additional shares of common stock ($0.10 par value per share) were issued at the end of the year for $2,320 in cash (for a total at the end of the year of 810 shares). These effects are included below:

The adjusted trial balance is in the pictures as is the format for the answer.

CATENA'S MARKETING COMPANY
Statement of Stockholders' Equity
For the current year
Common
Stock
Total
Stockholders'
Equity
Additional
Retained
Paid-in Capital
Earnings
Balance, January 1
Share issuance
$
23
58
Net income
Dividends declared
Balance, December 31

Catena's Marketing Company
Adjusted Trial Balance
End of the Current Year
Debit
$ 1,570
2,260
Credit
Cash
Accounts receivable
Interest receivable
170
Prepaid insurance
Long-term notes receivable
Equipment
Accumulated depreciation
Accounts payable
Dividends payable
Accrued expenses payable
Income taxes payable
1,790
2,830
15,400
$ 2,830
2,390
580
3,860
2,530
Unearned rent revenue
370
Common Stock (810 shares)
Additional paid-in capital
Retained earnings
81
3,469
3,920
36,650
Sales revenue
Interest revenue
110
Rent revenue
670
Wages expense
Depreciation expense
Utilities expense
18,200
1,710
400
Insurance expense
770
Rent expense
9,600
2,760
Income tax expense
Total
$ 57,460 $57,460

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