QS 13-7 Preparing a statement of changes in equity LO² Fisher Inc. began operations on January 1, 2014. During its first year, $750,000 of common shares were issued and a net loss of $28,000 was realized. In 2015, Fisher's second year of operations, an additional $125,000 of common shares were issued, a net income of $148,000 was realized, and dividends of $40,000 were declared and paid.
QS 13-7 Preparing a statement of changes in equity LO² Fisher Inc. began operations on January 1, 2014. During its first year, $750,000 of common shares were issued and a net loss of $28,000 was realized. In 2015, Fisher's second year of operations, an additional $125,000 of common shares were issued, a net income of $148,000 was realized, and dividends of $40,000 were declared and paid.
Financial & Managerial Accounting
13th Edition
ISBN:9781285866307
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter13: Investments And Fair Value Accounting
Section: Chapter Questions
Problem 18EX
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