Statement of Changes in Stockholders’ Equity and Balance Sheet Assignment
Assume the following beginning balance for Rustic Camp Sites as of January 1, 20xx:
Cash – $51,000
Land – $500,000
Notes Payable – $400,000
Common Stock – $120,000
Retained Earnings – $31,000
Assume the following ending balance as of the end of the year
Cash – $230,000
Land – $400,000
Notes Payable – $400,000
Common Stock – $152,000
Ending Retained Earnings – $78,000
Dividends – $9,000
Revenue – $116,000
Expense – $60,000
Construct an income statement, statement of changes in stockholders’ equity and balance sheet as of the end of the year 20xx using the following Excel template:
Rustic Camp Sites Income Statement For the Year Ended December 31, 20xx Rustic Camp Sites Balance Sheet December 31, 20xx Cash Revenue Expense Net Income Total Assets Notes Payable Rustic Camp Sites Statement of Changes in Stockholders Equity For the Year Ended December 31, 20xx Common Stock Retained Earnings Total Liabilities & S. Equity Beginning Common Stock Additional Common Stock Ending Common Stock Beginning Retained Earnings Net Income Less Dividends Ending Retained Earnings Total Stockholders Equity. .
