The Bonita Corporation reports the following adjusted account balances, shown in alphabetical order, at the end of its fiscal year, February 28, 2021:Accounts payable 12,600 Income tax payable4,500Accounts receivable 28,400 Insurance expense3,500Accumulated depreciation—equipment 5,600 Prepaid insurance2,600Cash 18,200 Rent expense5,900Common shares 6,580 Retained earnings20,220Depreciation expense 4,600 Salaries expense45,050Dividends declared 1,900 Salaries payable3,450Equipment 22,800 Supplies300Fees earned 91,700 Supplies expense4,100Income tax expense 4,800 Utilities expense2,500During the year ended February 28, 2021, common shares were issued for $5,000.Net income 21250Prepare a statement of changes in equity. (For decreases use either a negative sign preceding the number, e.g. -45 or parenthesis, e.g. (45).) O New TabBAB140 Lab#3 Ch4 W2022NWP Assessment Player UI Appli xXA education.wiley.com/was/ui/v2/assessment-player/index.html?launchld=f4616382-0897-478f-bd88-3265c0af818f#/question/3E Apps W MarketWatch: Stock..e Business NewsMarket News | Seek...e FINVIZ.com - Stock...T7 CVNA 228.28 A +1.S Stocktwits - The lar.* Google TranslateE Earnings and Econo.AV Short Interest Stock.* U.S. News | ReutersWSJ market volumeE Reading list>>BAB140 Lab#3 Ch4 W2022Question 4 of 5>0.67 / 2Net income21,250eTextbook and MediaList of AccountsAttempts: 2 of 3 used(b)Prepare a statement of changes in equity. (For decreases use either a negative sign preceding the number, e.g. -45 or parenthesis, e.g.(45).)BONITA CORPORATIONStatement of Changes in Shareholders' EquityYear Ended February 28, 2021Common SharesRetained EarningsTotal Equity$2$2$

Name: The Bonita Corporation reports the following adjusted account balances
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Description: The Bonita Corporation reports the following adjusted account balances, shown in alphabetical order, at the end of its fiscal year, February 28, 2021:Accounts payable 12,600 Income tax payable4,500Accounts receivable 28,400 Insurance expense3,500Accu

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Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter10: Stockholder's Equity

Section: Chapter Questions

Problem 93.3C

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The Bonita Corporation reports the following adjusted account balances, shown in alphabetical order, at the end of its fiscal year, February 28, 2021:

Accounts payable	12,600	Income tax payable	4,500
Accounts receivable	28,400	Insurance expense	3,500
Accumulated depreciation—equipment	5,600	Prepaid insurance	2,600
Cash	18,200	Rent expense	5,900
Common shares	6,580	Retained earnings	20,220
Depreciation expense	4,600	Salaries expense	45,050
Dividends declared	1,900	Salaries payable	3,450
Equipment	22,800	Supplies	300
Fees earned	91,700	Supplies expense	4,100
Income tax expense	4,800	Utilities expense	2,500

During the year ended February 28, 2021, common shares were issued for $5,000.

Net income 21250

Prepare a statement of changes in equity. (For decreases use either a negative sign preceding the number, e.g. -45 or parenthesis, e.g. (45).)

O New Tab
BAB140 Lab#3 Ch4 W2022
NWP Assessment Player UI Appli x
X
A education.wiley.com/was/ui/v2/assessment-player/index.html?launchld=f4616382-0897-478f-bd88-3265c0af818f#/question/3
E Apps W MarketWatch: Stock..
e Business News
Market News | Seek...
e FINVIZ.com - Stock...
T7 CVNA 228.28 A +1.
S Stocktwits - The lar.
* Google Translate
E Earnings and Econo.
AV Short Interest Stock.
* U.S. News | Reuters
WSJ market volume
E Reading list
>>
BAB140 Lab#3 Ch4 W2022
Question 4 of 5
>
0.67 / 2
Net income
21,250
eTextbook and Media
List of Accounts
Attempts: 2 of 3 used
(b)
Prepare a statement of changes in equity. (For decreases use either a negative sign preceding the number, e.g. -45 or parenthesis, e.g.
(45).)
BONITA CORPORATION
Statement of Changes in Shareholders' Equity
Year Ended February 28, 2021
Common Shares
Retained Earnings
Total Equity
$
2$
2$

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