Dana Company reported the following amounts in the shareholders’ equity section of its December 31, 2018, balance sheet:
During 2019, Dana’s net income was $83,000 and its dividends on preferred and common stock were $9,900 and $17,600, respectively. In addition, the following transactions affected its shareholders’ equity:
Required:
1. Prepare Dana’s statement of shareholders’ equity for 2019. (Hint: This statement will include more than 10 numerical columns.) Assume Dana reports its comprehensive income in this statement.
2. Prepare the shareholders’ equity section of Dana’s balance sheet as of December 31, 2019. Include any related notes to its financial statements.
1.
Prepare statement of shareholder’s equity for the Company D for the year ended 2019 by assuming that it reports comprehensive income in its statement.
Shareholder’s equity:
The claims of owners on a company’s resources, after the liabilities are paid off, are referred to as stockholders’ equity. Therefore, stockholders’ equity is sometimes referred to as net worth of owners or shareholders or stockholders.
(Figure 1)
Working notes:
(1) Calculation of addition paid-in capital on common stock when treasury stock is retired:
(2) Calculation of retained earnings when common stock
2.
Compute the stockholder’s equity section of Company D’s balance sheet as of December 31, 2019 and also provide notes to its financial statements.
Accounting Information Systems
Managerial Accounting: The Cornerstone of Business Decision-Making
Financial & Managerial Accounting
Financial Accounting
College Accounting, Chapters 1-27
Corporate Financial Accounting
Financial And Managerial Accounting
STATISTICS F/BUSINESS+ECONOMICS-TEXT
ECON: MICRO4 (New, Engaging Titles from 4LTR Press)
Brief Principles of Macroeconomics (MindTap Course List)
Foundations of Business (MindTap Course List)
Fundamentals of Financial Management, Concise Edition (MindTap Course List)
Principles of Economics (MindTap Course List)
Essentials of Economics (MindTap Course List)
Accounting Information Systems
Management, Loose-Leaf Version
Principles of Microeconomics (MindTap Course List)
Contemporary Marketing
Fundamentals of Financial Management (MindTap Course List)
Principles of Macroeconomics (MindTap Course List)
MKTG 12:STUDENT ED.-TEXT
Essentials of Business Communication (MindTap Course List)
Financial & Managerial Accounting
Financial Accounting
College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
Accounting (Text Only)
College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
Statistics for Business & Economics, Revised (MindTap Course List)
Fundamentals of Financial Management (MindTap Course List)
Fundamentals of Financial Management, Concise Edition (with Thomson ONE - Business School Edition, 1 term (6 months) Printed Access Card) (MindTap Course List)
Principles of Macroeconomics (MindTap Course List)
Pkg Acc Infor Systems MS VISIO CD
Exploring Economics
Corporate Financial Accounting
PAYROLL ACCT.,2019 ED.(LL)-TEXT
Survey of Accounting (Accounting I)
Microeconomics
Purchasing and Supply Chain Management
Macroeconomics
Economics For Today
Cornerstones of Cost Management (Cornerstones Series)
Economics (MindTap Course List)