Reporting changes in stockholders equity itemson may 1 2013, Ask an Expert

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Reporting Changes in Stockholders' Equity Items

On May 1, 2013, Ryde Inc. had common stock of $345,000, additional paid-in capital of $1,298,000, and retained earnings of $3,013,000. Ryde did not purchase or sell any common stock during the year. The company reported net income of $556,000 and declared dividends in the amount of $78,000 during the year ended April 30, 2014.

Required:

Prepare a financial statement that explains the differences between the beginning and ending bal- ances for the accounts in the Stockholders' Equity category of the balance sheet.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91625236

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