On January 1, 2016 Hammer Company listed the following shareholders’ equity section of its balance sheet:

During 2016, the following transactions and events occurred and were recorded: 1.) Hammer issued 50,000 shares of common stock at $3 per share.
2.) Hammer earned net income of $175,900.
3.) Hammer paid a cash dividend of $.10 per share of common stock
4.) Hammer had an unrealized loss associated with some available-for-sale securities in the amount of $1,450.

Required:
Prepare Hammer's statement of shareholders' equity for 2016.

Question

On January 1, 2016 Hammer Company listed the following shareholders’ equity section of its balance sheet:

During 2016, the following transactions and events occurred and were recorded: 1.) Hammer issued 50,000 shares of common stock at $3 per share.
2.) Hammer earned net income of $175,900.
3.) Hammer paid a cash dividend of $.10 per share of common stock
4.) Hammer had an unrealized loss associated with some available-for-sale securities in the amount of $1,450.

Required:
Prepare Hammer's statement of shareholders' equity for 2016.

Quizplus · Accepted Answer

The Answer of 	On January 1, 2016 Hammer Company listed the following shareholders’ equity section of its balance sheet:

During 2016, the following transactions and events occurred and were recorded: 1.) Hammer issued 50,000 shares of common stock at $3 per share.
2.) Hammer earned net income of $175,900.
3.) Hammer paid a cash dividend of $.10 per share of common stock
4.) Hammer had an unrealized loss associated with some available-for-sale securities in the amount of $1,450.

Required:
Prepare Hammer's statement of shareholders' equity for 2016.

On January 1, 2016 Hammer Company Listed the Following Shareholders’