On January 1 2014 Shellenburger Inc Had The Following Stockholders

On January 1, 2014, Shellenburger Inc. had the following stockholders’ equity account balances.
Common Stock, no-par value (500,000 shares issued) ……$1,500,000
Common Stock Dividends Distributable ………… 200,000
Retained Earnings ……………….. 600,000
During 2014, the following transactions and events occurred.
1. Issued 50,000 shares of common stock as a result of a 10% stock dividend declared on
December 15, 2013.
2. Issued 30,000 shares of common stock for cash at $6 per share.
3. Corrected an error that had understated the net income for 2012 by $70,000.
4. Declared and paid a cash dividend of $80,000.
5. Earned net income of $300,000.

Instructions
Prepare the stockholders’ equity section of the balance sheet at December 31, 2014.

Place this order or similar order and get an amazing discount. USE Discount code “GET20” for 20% discount