The following information is from the accounts of Rockefeller,Inc. at
December 31, 2013.
Common Stock, $1 par value, 500,000shares authorized, $400,000
Paid-in Capital in Excess of ParValue--Common Stock 650,000
Preferred Stock, $100 par value, 8%,10,000 shares
authorized 200,000
Retained Earnings at January 1, 2013 600,000
Treasury Stock (10,000 commonshares) 85,000
Paid-in Capital in Excess of ParValue--Preferred Stock 310,000
Cash dividends declared on preferredstock 80,000
Prior period adjustment that wasrecorded as a debit to
RetainedEarnings for an error discovered from 2010â¦â¦â¦â¦ 30,000
Net income for2013 750,000
INSTRUCTIONS
a.Prepare a statement of retainedearnings at December 31, 2013.
b.Prepare the stockholders' equitysection at December 31, 2013.
The following information is from the accounts of Rockefeller,Inc. at
December 31, 2013.
Common Stock, $1 par value, 500,000shares authorized, $400,000
Paid-in Capital in Excess of ParValue--Common Stock 650,000
Preferred Stock, $100 par value, 8%,10,000 shares
authorized 200,000
Retained Earnings at January 1, 2013 600,000
Treasury Stock (10,000 commonshares) 85,000
Paid-in Capital in Excess of ParValue--Preferred Stock 310,000
Cash dividends declared on preferredstock 80,000
Prior period adjustment that wasrecorded as a debit to
RetainedEarnings for an error discovered from 2010â¦â¦â¦â¦ 30,000
Net income for2013 750,000
INSTRUCTIONS
a.Prepare a statement of retainedearnings at December 31, 2013.
b.Prepare the stockholders' equitysection at December 31, 2013.