[gagirltammy]

Preferred stock, $100 par value, 8% cumulative $5,000
common stock, $2 par value $40,000
Addit. Paid-in capital $27,000
Retained earnings $83,000
Less: Treasury stock (3,300 shares at cost) (13,200)
Total stockholders' equity $141,800

Following events occurred
a. issued 5000 shares of common stock for 30000
b. Purchassed 600 shares of treasury stock for 2400
c. sold 1000 shares of TS for 5500
d. generated net income of 47000
e. declared and paid the full years's dividend on prefeffed stock and a dividend on preferred stock and a dividend of 1.00 per share on common stock outstanding at the end of the year.

1. I have to prepare a statement of stockholder equity
2. enter the formulas in the appropriate cells on the worksheet. Then show the effect.



STOCKEQ
Statement of Stockholder's Equity

Treasure Island Corporation
Statement of Stockholders' Equity
For the Year Ended December 31, 2008

Preferred Common
Stock Stock Add'l
$100 Par $2 Par Paid-in Retained Treasury
Value Value Capital Earnings Stock Total
Balance, 12/31/07 $5,000 $40,000 $27,000 $83,000 ($13,200) $141,800
Common stock issued FORM2
Treasury stock bought 0
Treasury stock sold 0
Net income 0
Dividends declared:
Preferred 0
Common 0
Balance, 12/31/08 FORM1 $0 $0 $0 $0 $0

[Curlyben]

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