Y3 Astro Corporation was started with the issue of 4,100 shares of $10 par stock for cash on January 1, Year 1. The stock was issued at a market price of $17 per share. During Year 1, the company earned $69,700 in cash revenues and paid $46,699 for cash expenses. Also, a $3,600 cash dividend was paid to the stockholders. Required Prepare an income statement, statement of changes in stockholders’ equity, balance sheet, and statement of cash flows for Astro Corporation’s Year 1 fiscal year.
Y3 Astro Corporation was started with the issue of 4,100 shares of $10 par stock for cash on January 1, Year 1. The stock was issued at a market price of $17 per share. During Year 1, the company earned $69,700 in cash revenues and paid $46,699 for cash expenses. Also, a $3,600 cash dividend was paid to the stockholders. Required Prepare an income statement, statement of changes in stockholders’ equity, balance sheet, and statement of cash flows for Astro Corporation’s Year 1 fiscal year.
Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
Chapter12: Statement Of Stockholders’ Equity (stockeq)
Section: Chapter Questions
Problem 1R: Chen Corporation began 2012 with the following stockholders equity balances: The following selected...
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Y3
Astro Corporation was started with the issue of 4,100 shares of $10 par stock for cash on January 1, Year 1. The stock was issued at a market price of $17 per share. During Year 1, the company earned $69,700 in cash revenues and paid $46,699 for cash expenses. Also, a $3,600 cash dividend was paid to the stockholders.
Required
Prepare an income statement, statement of changes in stockholders’ equity , balance sheet , and statement of cash flows for Astro Corporation’s Year 1 fiscal year.
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