The Bonita Corporation reports the following adjusted account balances, shown in alphabetical order, at the end of its fiscal year, February 28, 2021: Accounts payable   12,600   Income tax payable 4,500 Accounts receivable   28,400   Insurance expense 3,500 Accumulated depreciation—equipment   5,600   Prepaid insurance 2,600 Cash   18,200   Rent expense 5,900 Common shares   6,580   Retained earnings 20,220 Depreciation expense   4,600   Salaries expense

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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The Bonita Corporation reports the following adjusted account balances, shown in alphabetical order, at the end of its fiscal year, February 28, 2021:

Accounts payable   12,600   Income tax payable 4,500
Accounts receivable   28,400   Insurance expense 3,500
Accumulated depreciation—equipment   5,600   Prepaid insurance 2,600
Cash   18,200   Rent expense 5,900
Common shares   6,580   Retained earnings 20,220
Depreciation expense   4,600   Salaries expense 45,050
Dividends declared   1,900   Salaries payable 3,450
Equipment   22,800   Supplies 300
Fees earned   91,700   Supplies expense 4,100
Income tax expense   4,800   Utilities expense 2,500


During the year ended February 28, 2021, common shares were issued for $5,000.

Net income  21250

Prepare a statement of changes in equity. (For decreases use either a negative sign preceding the number, e.g. -45 or parenthesis, e.g. (45).)

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BAB140 Lab#3 Ch4 W2022
Question 4 of 5
>
0.67 / 2
Net income
21,250
eTextbook and Media
List of Accounts
Attempts: 2 of 3 used
(b)
Prepare a statement of changes in equity. (For decreases use either a negative sign preceding the number, e.g. -45 or parenthesis, e.g.
(45).)
BONITA CORPORATION
Statement of Changes in Shareholders' Equity
Year Ended February 28, 2021
Common Shares
Retained Earnings
Total Equity
$
2$
2$
Transcribed Image Text:O New Tab BAB140 Lab#3 Ch4 W2022 NWP Assessment Player UI Appli x X A education.wiley.com/was/ui/v2/assessment-player/index.html?launchld=f4616382-0897-478f-bd88-3265c0af818f#/question/3 E Apps W MarketWatch: Stock.. e Business News Market News | Seek... e FINVIZ.com - Stock... T7 CVNA 228.28 A +1. S Stocktwits - The lar. * Google Translate E Earnings and Econo. AV Short Interest Stock. * U.S. News | Reuters WSJ market volume E Reading list >> BAB140 Lab#3 Ch4 W2022 Question 4 of 5 > 0.67 / 2 Net income 21,250 eTextbook and Media List of Accounts Attempts: 2 of 3 used (b) Prepare a statement of changes in equity. (For decreases use either a negative sign preceding the number, e.g. -45 or parenthesis, e.g. (45).) BONITA CORPORATION Statement of Changes in Shareholders' Equity Year Ended February 28, 2021 Common Shares Retained Earnings Total Equity $ 2$ 2$
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