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Lecture

FormatsforAccounting.docx

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Department
Business
Course
BUSI 1001
Professor
Emily Gray
Semester
Fall

Description
Example Statement of Changes in Shareholders Equity For the year ended _________, 20x10 Capital Stock Retained Earnings Total  Balance at Jan. 1, 20x10 INSERT INSERT ADD CS+RE Net Income INSERT ▯ INSERT Issue of Capital Stock INSERT  ▯ INSERT Purchase of Capital Stock  (INSERT) ▯ INSERT Dividends                                              ▯              (INSERT) Balance, Dec 31, 20x10 TOTAL TOTAL ▯ TOTAL Example Statement of Retained Earnnings For the period ending _______, 20x__ Retained Earnings Jan 1, 20x7        $0 Net Income   xxxx Dividends  (xxxx) Retained Earnings, Dec. 31,20x7   xxxx Closing entries:  All revenue accounts xxxx Retained Earnings  xxxx Retained Earnings  xxxx All expense accounts  xxxx Declared and paid dividend: Retained Earnings xxxx Cash  xxxx % Completion method: Set up a chart like this: 20x7 20x8 20x9 Costs incurred  during the year Expected costs to  complete contract Total estimated  (costs incurred to  costs date + expected  costs to complete) Total estimated  (total estimated  profif costs – total  contracted price) Fill in what you know % complete  = costs incurred to date / total estimated costs  = percentage Revenue = (Total Cost) x percentage complete      = xxxx Cos
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