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p14-2a - Accounts Beginning balance Preferred stock 600,000...

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Accounts Hashmi Company Hashmi Company Preferred stock Statement of Retained Earnings Balance Sheet Beginning balance 600,000 For the year ended December 31, 2008 As of December 31, 2008 Retained earnings, beginning 800,000 Stockholders' Equity Add: Correction of accounting error 25,000 Ending balance 600,000 Add: Net income 355,000 Preferred stock $600,000 Less: Dividends Common stock 880,000 Common stock Stock dividends 288,000 Paid-in capital in excess of par value-Preferred stock 200,000 Beginning balance 800,000 Cash dividend to common 80,000 Paid-in capital in excess of par value-Common stock 508,000 Dec 1 80,000 Cash dividend to preferred 36,000 404,000 Retained earnings-unrestricted 526,000 Retained earnings-restricted 200,000 Retained earnings, ending 776,000 Total stockholders' equity $2,914,000 Ending balance 880,000 Retained earnings, unrestricted 526,000 Retained earnings, restricted 200,000 Beginning balance 200,000 Total retained earnings 726,000 Ending balance 200,000 Beginning balance 300,000 Dec 1 208,000 Ending balance 508,000 Retained earnings Beginning balance 800,000 Jul 1 80,000 Aug 1 25,000 Dec 1 288,000 Dec 15 36,000 Dec 31 355,000 Dec 31 200,000 Ending balance 526,000
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