Chapter 10.2 project.xlsx - Stockholders’ Equity Prepare the stockholders’ equity section of a balance sheet The financial statements of Ridgeline

Chapter 10.2 project.xlsx - Stockholders’ Equity Prepare...

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Stockholders’ Equity Prepare the stockholders’ equity section of a balance sheet Paid-in capital in excess of par $334,000 Total revenues $1,600,000 Notes payable (short-term) 50,000 Accounts payable 100,000 6,000 Retained earnings 660,000 Other current liabilities 200,000 Long-term debt 25,000 Total expenses 1,000,000 Use the blue shaded areas on the ENTERANSWERS tab for inputs. Requirement Prepare the stockholders’ equity section of Ridgeline’s balance sheet. Net income has already b a. Check your spelling carefully and do not abbreviate. b. For reporting purposes, ignore authorized shares. Saving & Submitting Solution 1 Save file to desktop. a. Create folder on desktop, and label COMPLETED EXCEL PROJECTS 2 Upload and submit your file to be graded. a. Navigate back to the activity window - screen where you downloaded the initial spre b. Click Choose button under step 3; locate the file you just saved and click Open c. Click Upload button under step 3 d. Click Submit button under step 4 Viewing Results 1 Click on Results tab in MyAccountingLab 2 Click on the Assignment you were working on
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Unformatted text preview: 3 Click on Project link; this will bring up your Score Card 4 Within Score Card window, click on Live Comments Report (lower right) to download spre The financial statements of Ridgeline Employment Services, Inc., reported the following accoun Common stock, $0.01 par, 600,000 shares issued Always use cell references and formulas where appropriate to receive full credit. If you copy/ will be marked wrong. been closed to Retained Earnings. eadsheet eadsheet with feedback nts: /paste from the Instructions tab you Prepare the stockholders’ equity section of Ridgeline’s balance sheet. Net income h Stockholders’ equity: Amount Common Stock,$.01 par, 600,000 $ 6,000 Paid-in Capital in excess of par 334,000 Total paid-in capital 340,000 Retained Earnings 660,000 Total stockholders’ equity $ 1,000,000 (Always use cell references and formulas where appropriate to receive full credit. If y tab you will be marked wrong.) has already been closed to Retained Earnings. you copy/paste from the Instructions...
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