Question

Napolean Corporation started business on January 1, 2016. The following information was compiled by Napolean’s accountant on December 31, 2016:

Sales Revenue $6,000 Equipment, net $4,500
Expenses 3,600 Building, net 12,000
Dividends 900 Accounts Payable 1,200
Cash 450 Notes Payable 9,900
Accounts Receivable 750 Common Stock 6,000
Inventory 900 Retained Earnings ?

NAPOLEAN CORPORATION
Statement of Stockholders' Equity
For Year Ended December 31, 2016
Common
Stock
Retained
arnings
Total
Balance, January 1, 2016
Add: Net Income for 2016
2,400
2,400
Add: Issuance of Common Stock
6,000
6,000
(900)
7,500
6,000
Less: Dividends paid
(enter as a negative)
(900)
(900)
Balance, December 31, 2016
5,100 $
7,500

Image Transcription

NAPOLEAN CORPORATION Statement of Stockholders' Equity For Year Ended December 31, 2016 Common Stock Retained arnings Total Balance, January 1, 2016 Add: Net Income for 2016 2,400 2,400 Add: Issuance of Common Stock 6,000 6,000 (900) 7,500 6,000 Less: Dividends paid (enter as a negative) (900) (900) Balance, December 31, 2016 5,100 $ 7,500

Expert Answer

Want to see the step-by-step answer?

See Answer

Check out a sample Q&A here.

Want to see this answer and more?

Experts are waiting 24/7 to provide step-by-step solutions in as fast as 30 minutes!*

See Answer
*Response times vary by subject and question complexity. Median response time is 34 minutes and may be longer for new subjects.

Related Accounting Q&A

Find answers to questions asked by student like you
Show more Q&A

Q: The December bank statement and cash T-account for Stewart Company follow:   BANK STATEMENT D...

A: Bank Reconciliation statement Bank Reconciliation Statement is the statement which is prepared to ov...

Q: Krammer Company has liabilities equal to one fourth of the total assets. Krammer's stockholders' equ...

A: Accounting Equation: Accounting equation is the mathematical representation of the relationship amon...

Q: Flexible Budgets; Total Operating Income Variance; Breakdown of the Total Operating Income Variance;...

A: 1. Total operating income variance for July.

Q: Crane Company’s direct materials budget shows total cost of direct materials purchases for April $30...

A: Cash budget meaningA cash budget is an estimation of the cash inflows and surges for a business over...

Q: Stratus Inc. purchased equipment for $18,500 and received an invoice with terms 4/10, 3/30, n/45. If...

A: Stratus Incorporation purchased equipment and it had terms 4/10, 3/30, n/45. In this case, the compa...

Q: On January 1, 2019, Roosevelt Company purchased 12% bonds having a maturityvalue of $500,000 for $53...

A: Prepare amortization schedule.

Q: Hello, Crichton Publications uses the accounting rate of return method to evaluate proposed capital ...

A: Accounting rate of return is computed by dividing the net increment in accounting income by the init...

Q: The Melrose Corporation produces a single product, Product C. Melrose has the capacity to produce 10...

A: Incremental cost: Incremental cost refers to the cost incurred in producing an additional unit, in o...

Q: AT SUGEY CIRCUS at jUNE 30 curren year has account payable....$31,320 accounts receivble 8,940 anima...

A: Balance Sheet The balance sheet is one of the financial statements prepared at the end of the financ...