On january 1 2014 hammer company listed the following, Ask an Expert

Accounting

On January 1, 2014 Hammer Company listed the following shareholders' equity section of its balance sheet:

Contributed Capital:

Common stock, $1 par

$150,000

Additional paid-in capital on common stock

300,000

Total Contributed Capital

$450,000

Retained Earnings

758,000

Accumulated other comprehensive income

14,500

Total Shareholders' Equity

$1,222,500

During 2015, the following events occurred in the order listed and were properly recorded:

· The company issued 3,000 shares of common stock at $25 per share.

· The company earned net income of $126,300.

· The company paid a $1.20 per share dividend on its common stock.

· The company experienced an unrealized decrease in the value of its investment in available-for-sale securities of $9,000.

Required:

Prepare a statement of changes in shareholders' equity for 2015

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9799687

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