Financial Accounting

/in /by

Pearson began 2012 with 30,000 $1 common shares issued and outstanding. Paid in capital in excess of par was $25,000 and retained earnings were $175,000. Net income for 2012 was $22,000.

Requirements:

Review Pearson’s transactions for 2012 in the Excel Template below, then:

    1. Record the transactions in the journal.
    2. Prepare the statement of shareholders’ equity for 2012.