he following select balances are from Muin Co.'s year end 2019 financial statements: ...
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Accounting
he following select balances are from Muin Co.'s year end 2019 financial statements:
Common Shares
$670,000
Preferred Shares
$220,000
Retained Earnings
$350,000
At the end of 2020 the company had earned net income of $128,000 and during the year they had paid dividends in the amount of $20,200 to preferred shareholders and $13,300 to common shareholders and issued additional common shares in exchange for $57,800 in cash. The company`s year end is December 31. Prepare a statement of Retained Earnings and a Statement of Changes in Shareholders Equity for Muin Co. for the year end 2020.
he following select balances are from Muin Co.'s year end 2019 financial statements: Common Shares $670,000 Preferred Shares $220,000 Retained Earnings $350,000 At the end of 2020 the company had earned net income of $128,000 and during the year they had paid dividends in the amount of $20,200 to preferred shareholders and $13,300 to common shareholders and issued additional common shares in exchange for $57,800 in cash. The company`s year end is December 31. Prepare a statement of Retained Earnings and a Statement of Changes in Shareholders Equity for Muin Co. for the year end 2020.
Muin Co. Statement of Retained Earnings For the year ended December 31, 2020
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