Bluebird Products, Inc. Trial Balance (Partial) For the Year Ended December 31 Account Debit Credit Cost of Goods Sold $750,000 Selling Expenses 20,000 Office Supplies Expense 123,500 Amortization...


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Bluebird Products, Inc.<br>Trial Balance (Partial)<br>For the Year Ended December 31<br>Account<br>Debit<br>Credit<br>Cost of Goods Sold<br>$750,000<br>Selling Expenses<br>20,000<br>Office Supplies Expense<br>123,500<br>Amortization Expense<br>34,500<br>Sales Salaries Expense<br>55,000<br>Advertising Expense<br>68,900<br>Office Salaries Expense<br>78,500<br>Depreciation Expense<br>68,000<br>Accounting and Legal Fees<br>10,425<br>Systems Consulting Fees<br>44,550<br>Interest Expense<br>23,750<br>Loss on Asset Impairment<br>12,350<br>Loss on Sale of Discontinued Operations before Tax<br>90,000<br>Bluebird issued $345,000 of no-par common stock on June 30 of the current year. The company is subject<br>to a 40% income tax rate. The beginning balance in common stock was $1,456,000.<br>Prepare a statement of stockholders' equity for the year ended December 31. Note: You will need to solve<br>for net income using the given information.<br>

Extracted text: Bluebird Products, Inc. Trial Balance (Partial) For the Year Ended December 31 Account Debit Credit Cost of Goods Sold $750,000 Selling Expenses 20,000 Office Supplies Expense 123,500 Amortization Expense 34,500 Sales Salaries Expense 55,000 Advertising Expense 68,900 Office Salaries Expense 78,500 Depreciation Expense 68,000 Accounting and Legal Fees 10,425 Systems Consulting Fees 44,550 Interest Expense 23,750 Loss on Asset Impairment 12,350 Loss on Sale of Discontinued Operations before Tax 90,000 Bluebird issued $345,000 of no-par common stock on June 30 of the current year. The company is subject to a 40% income tax rate. The beginning balance in common stock was $1,456,000. Prepare a statement of stockholders' equity for the year ended December 31. Note: You will need to solve for net income using the given information.
E5-11. Prepare a Statement of Stockholders’ Equity. Bluebird Products, Inc. provided the following information<br>from its current-year trial balance.<br>Bluebird Products, Inc.<br>Trial Balance (Partial)<br>For the Year Ended December 31<br>Account<br>Debit<br>Credit<br>Retained Earnings, Beginning Balance<br>$3,200,950<br>Accumulated Other Comprehensive Income, Beginning Balance<br>95,675<br>Dividends<br>$76,500<br>Sales<br>2,200,000<br>Interest Income<br>34,500<br>Dividend Income<br>12,300<br>Gain on Disposal<br>Plant Assets<br>100,500<br>Unrealized Gain on Trading Investments<br>86,000<br>Unrealized Gain on Available-for-Sale Bonds before Tax<br>45,600<br>Gain due to Flood Damage before Tax<br>109,000<br>

Extracted text: E5-11. Prepare a Statement of Stockholders’ Equity. Bluebird Products, Inc. provided the following information from its current-year trial balance. Bluebird Products, Inc. Trial Balance (Partial) For the Year Ended December 31 Account Debit Credit Retained Earnings, Beginning Balance $3,200,950 Accumulated Other Comprehensive Income, Beginning Balance 95,675 Dividends $76,500 Sales 2,200,000 Interest Income 34,500 Dividend Income 12,300 Gain on Disposal Plant Assets 100,500 Unrealized Gain on Trading Investments 86,000 Unrealized Gain on Available-for-Sale Bonds before Tax 45,600 Gain due to Flood Damage before Tax 109,000

Jun 01, 2022
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