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    Lady In Luck's Avatar
    Lady In Luck Posts: 3, Reputation: 1
    New Member
    		  
    #1

    Apr 1, 2012, 02:48 PM
    Does This Accounting Answer Look Correct?
    Here is the problem:
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    My answer:
    Stratfield, Inc.
    Statement of Stockholders' Equity
    For the year ended December 31, 2008

    Contributed capital, December 31, 2007... $16,500
    Add: Common stock issued in 2008... $4,000
    Contributed capital, December 31, 2008... $20,500

    Retained earnings, December 31, 2007... $11,300
    Add: Net income... $12,980
    Less: Dividends... ($3,000)
    Retained earnings, December 31, 2008... $21,280

    Total stockholders' equity, December 31, 2008... $41,780 ($20,500 + $21,280)

    How does that look?
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
    Ultra Member
    		  
    #2

    Apr 1, 2012, 10:15 PM
    Seems to do the trick
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