The Stockholders' Equity section of 20X1 balance sheet for Beengo Enterprises is presented below:
Beengo Enterprises
Stockholders' Equity
December 31, 20X1
Common Stock $12,000
Retained Earnings 56,800
Accumulated Other Comprehensive Income 3,700
Total Stockholders' Equity $72,500
For the year ended December 31, 20X2, the statement of comprehensive income reported $5,678 net income and $4,987 comprehensive income. During 20X2, Beengo paid $2,200 in dividends, issued $2,000 of no-par common stock, then repurchased $300 of its shares at the end of the reporting period. Prepare the statement of stockholders' equity for 20X2.
What will be an ideal response?
Answer: Beengo Enterprises
Statement of Stockholders' Equity
December 31, 20X1
Common Retained Treasury Accumulated
Stock Earnings Stock OCI Total
Balance, 1/1/20X2 $12,000 $56,800 -0- $3,700 $72,500
Net income 5,678 5,678
Dividends (2,200) (2,200)
Issue stock 2,000 2,000
Repurchase stock (300) (300)
OCI (691) (691)
Balance, 12/31/20X2 $14,000 $60,278 ($300) $3,009 $76,987
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