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Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
ISBN: 9781337690881

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Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
ISBN: 9781337690881
Textbook Problem
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Which of the following is not a component of stockholders’ equity?

  1. retained earnings
  2. net income
  3. loss on sale of equipment
  4. dividends payable

To determine

Concept introduction:

Stockholder’s Equity:

Stockholders Equity includes the paid up amount of all stocks (Common as well as preferred) issued and retained earnings balance. It represents the amount owed to the stockholders by the company. Stockholders Equity is the section of balance sheet’s equity part.

To choose:

The correct option that is not a component of stockholder’s equity.

Explanation

Explanation for correct answer:

d. Dividends Payable is not a component of stockholder’s equity it is the component of Current Liabilities. Hence the correct option is d.

Explanation for incorrect answers:

a. Retained earnings is a component of stockholder’s equity...

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