The following accounts appear in the ledger of Horner Inc. after the books are closed at December 31

The following accounts appear in the ledger of Horner Inc. after the books are closed at December 31.

Instructions

Prepare the stockholders' equity section at December 31, assuming retained earnings is restricted for plant expansion in the amount of $100,000.

Solution

Horner Inc.
Balance Sheet (Partial)
December 31

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Problem-16: Corporations: Dividends, Retained Earnings, and income Reporting

Instructions

Solution

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