Question

Module 1 Problem Set Statement of stockholders' equity Financial information related to Organic Products Company for the month ended June 30, 20Y9, is as follows: Net income for June \$ 117,000 Dividends paid in June 30,000 Common stock, June 1, 20Y9 160,000 Common stock issued in June 60,000 Retained earnings, June 1, 20Y9 1,680,000 a. Prepare a statement of stockholders' equity for the month ended June 30, 20Y9. If an amount box does not require an entry, leave it blank. Organic Products Company Statement of Stockholders' Equity For the Month Ended June 30, 20Y9 Line Item Description Common Stock Retained Earnings Total b. Why is the statement of stockholders' equity prepared before the June 30, 20Y9, balance sheet? The statement of stockholders' equity is prepared before the June 30, 20Y9, balance sheet because as of June 30, 20Y9, are needed for the June 30,

          Module 1 Problem Set
Statement of stockholders' equity
Financial information related to Organic Products Company for the month ended June 30, 20Y9, is as follows:
Net income for June
\$ 117,000
Dividends paid in June
30,000
Common stock, June 1, 20Y9
160,000
Common stock issued in June
60,000
Retained earnings, June 1, 20Y9
1,680,000
a. Prepare a statement of stockholders' equity for the month ended June 30, 20Y9. If an amount box does not require an entry, leave it blank.
Organic Products Company
Statement of Stockholders' Equity
For the Month Ended June 30, 20Y9
Line Item Description Common Stock Retained Earnings Total
b. Why is the statement of stockholders' equity prepared before the June 30, 20Y9, balance sheet?
The statement of stockholders' equity is prepared before the June 30, 20Y9, balance sheet because
as of June 30, 20Y9, are needed for the June 30,

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module 1 problem set statement of stockholders equity financial information related to organic products company for the month ended june 30 20y9 is as follows net income for june 117000 divi 23641

Added by Zoe D.

Horngren’s Cost Accounting

Srikant M. Datar, Madhav V. Rajan 16th Edition

Instant Answer

Solved by Expert Azat Nurmukhametov

09/20/2022

Step 1

Retained earnings, June 1, 20Y9: \$1,680,000 Add: Net income for June: \$117,000 Less: Dividends paid in June: \$30,000 Ending retained earnings: \$1,680,000 + \$117,000 - \$30,000 = \$1,767,000 Show more…

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Module 1 Problem Set Statement of stockholders' equity Financial information related to Organic Products Company for the month ended June 30, 20Y9, is as follows: Net income for June \$ 117,000 Dividends paid in June 30,000 Common stock, June 1, 20Y9 160,000 Common stock issued in June 60,000 Retained earnings, June 1, 20Y9 1,680,000 a. Prepare a statement of stockholders' equity for the month ended June 30, 20Y9. If an amount box does not require an entry, leave it blank. Organic Products Company Statement of Stockholders' Equity For the Month Ended June 30, 20Y9 Line Item Description Common Stock Retained Earnings Total b. Why is the statement of stockholders' equity prepared before the June 30, 20Y9, balance sheet? The statement of stockholders' equity is prepared before the June 30, 20Y9, balance sheet because as of June 30, 20Y9, are needed for the June 30,

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00:02 Hello, let's feel the statement of stockholders ' equity for the months of june.

00:12 And if an amount is zero, enter zero.

00:15 Okay, so the first row is balance of june 1st, the beginning of the...

00:29 Oops, june the 1st.

00:34 And here we have several columns.

00:38 So the first column will be common stock and is given that common stock on june 1 was 30 ,000.

00:59 I will skip the next column, additional paid in capital.

01:04 It will be zeros anywhere, so you should put zero.

01:08 For all sales in additional paid in capital column, i will not use it because there are zeros, no need.

01:19 The second column that i will use retained earnings.

01:26 We'll use this column, retained earnings.

01:36 And it's given that on june 1st, it was 145 ,000.

01:48 I also will skip the next column, treasury stock, because there is nothing.

01:56 Can put all the zeros and lastly the total column total stockholders equity so the total is just the sum of this two one hundred and seventy five thousand and now let's write the other details so so 20 ,000 of stock issued in june 20th.

02:32 So it will be issued a common stock and we increase common stock by 20 ,000.

02:51 And total stockholders equity will increase by 20 ,000.

02:57 Next row is purchase treasury stock, but there is nothing about treasury.

03:04 Stock so i will skip this row.

03:06 For you, you should put zeros for all rows.

03:10 Purchase treasury stock.

03:13 Zeros are everywhere.

03:16 Okay, dividends during june...

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