Question

Marble Corporation had the following balances in its stockholders' equity accounts at December 31, 2013:


Common Stock, $10 par, 50,000 shares authorized,
20,000 shares issued .
$200,000
Paid-in Capital in Excess of Par Value, Common 250,000
Retained Earnings .. 500,000
Treasury Stock, 1,000 shares (20,000)
Total stockholders' equity .. $930,000

The following transactions occurred during 2014:


February 3 Sold and issued 3,000 shares of common stock for $22 per share.
May 10 Declared a $0.50 per share dividend on common stock.
October 12 Sold 500 shares of the treasury stock for $20 per share.
December 31 Net income for the year was determined to be $75,000.

Based on the above information, prepare a statement of stockholders' equity for 2014. Use the form below.


Marble Corporation Statement of Stockholders Equity December 31, 2014
Common Stock Paid-in Capital in Excess of Par Value, Common Retained Earnings Treasury Stock Total Equity
Balance, December 31, 2013 $200,000 $250,000 $500,000 $(20,000) $930,000
Balance, December 31, 2014

Answer

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