Jay Co. reported the following financial data for its most current year: Beginning-of-year common stock $105,000 Beginning-of-year retained earning 175,400 Net Income 33,400 Dividends Paid 10,500 Issuance of common stock 24,000 Compute Jay’s end-of-year total stockholders’ equity.

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22-01-2020
Business

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Jay Co. reported the following financial data for its most current year: Beginning-of-year common stock $105,000 Beginning-of-year retained earning 175,400 Net Income 33,400 Dividends Paid 10,500 Issuance of common stock 24,000 Compute Jay’s end-of-year total stockholders’ equity.

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ahmedrazakhan91 ahmedrazakhan91 · Answer 1 · 2020-01-23T12:20:53+01:00

Answer:

The correct answer would be $327,300.

Explanation:

In order to calculate end of year stockholders equity following equation is used.

Stockholders equity = Year end common stock + year end retained earnings - treasury stocks.

Since, there are no treasury stocks in this case, we just need to get year end common stock value and retained earnings.

To calculate year end stock value we just add beginning balance of stock to any other stock issuance value during the year which in this case would be:

105,000 + 24,000 = 129,000

Whereas, to calculate year end retained earnings, we take beginning balance add net income and subtract any dividend paid. Calculation in this case would be:

175,400 + 33,400 - 10,500 = 198,300

So, stockholder equity = 129,000 + 198,300 = 327,300.

chilljain33 chilljain33 · Answer 2 · 2022-01-18T11:48:00+01:00

The correct statement is that the closing balance of shareholder's equity in the books of Jay Co. will be $327,300.

The computation of the total stockholder's equity can be calculated by adding any incomes to the opening balances and deduction of reissued securities.

Computation of total stockholder's equities (Closing Balance)

Computation is done after applying the given values to the known formula and necessary adjustments to be made, if any. Here the closing stock will be,

[tex]\$105000+ $24000= \$29000[/tex]

As no information regarding the treasury stock is given, it has been assumed that no treasury stock transactions took place.

So in this case, the formula to calculate the closing balance of stockholder's equities will be,

[tex]\rm Closing\ Balance = Closing\ Stock + Closing\ Retained\ Earnings[/tex]

To calculate the closing balance of retained earnings, doing the following calculations,

[tex]\rm Earnings = Balance\ at\ the\ Beginning + Net\ Income- Dividend\\\\\rm Earnings =175400+33400-10500\\\\\rm Earnings =\$ 198300[/tex]

Now putting the obtained values into the formula above, we get,

[tex]\rm Closing\ Balance= 129000+198300\\\\\rm Closing\ Balance=\$327,300[/tex]

So the closing balance of the total stockholder's equities in the hands of Jay Co. will be $327,300.

Hence, the total stockholder's equities at the end of the year in the books of Jay Co. is $327,300.

Learn more about Stockholder's Equity here:

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