Concept Check 2.docx - Concept Check 2 General Ledger for...

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Concept Check 2 General Ledger for XYZ CompanyThe following is a portion of the general ledger for XYZ Company as of December 31, 20X1, and the statement of stockholders' equity for XYZ Company for the year ended December 31, 20X1. Use this information to answer questions (1) through (5). XYZ Company Statement of Stockholders' Equity (partial) For the year ended December 31, 20X1 Common Stock Retained Earnings Balance at January 1, 20X1 $50,000 $63,000 Issuance of common stock 32,000 + Net income for the year ended 12/31/X1 14,000 - Dividends paid (4,900) Balance at December 31, 20X1 $_______ $_______ XYZ Company Statement of Stockholders' Equity (partial) For the year ended December 31, 20X1 Common Stock Retained Earnings Balance at January 1, 20X1 $50,000 $63,000 Issuance of common stock 32,000 + Net income for the year ended 12/31/X1 14,000 - Dividends paid (4,900) Balance at December 31, 20X1 $_______ $_______ XYZ Company General Ledger (partial) As of December 31, 201X Amount Assets Cash $ 53,000 Accounts receivable 15,000

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