Introduction to Accounting Preparing for a User’s Perspective

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Presentation transcript:

Introduction to Accounting Preparing for a User’s Perspective Preparing and Using a Statement of Stockholder Equity Debits and Credits Trainer By Kevin C. Kimball, CPA with support from www.canvas.net Free Jan. 2014 Available on the Google Play Store

Begin. Equity + Increases - Decreases End. Equity Formula for the Statement of Stockholder Equity Were dividends paid? Please review our Statement of Stockholder Equity How did my equity change? Begin. Equity + Increases - Decreases End. Equity Management Stockholder

Total Stockholders’ Equity Prior Ending Capital Stock Capital Stock Retained Earnings Prior Ending Retained Earnings Begin. Capital Stock Begin. Retained Earnings + Issuances of Cap. Stock + Net Income - Net Loss - Repurchases of Cap. Stock - Dividends = End. Capital Stock = End. Retained Earnings

Articulation $5 Income Statement Statement of Retained Earnings Balance Sheet Net Income $5 Assets = Liabilities + Equity Begin. Retained Earnings $5 $0 + $5 + Net Income - Net Loss - Dividends Net Assets = Equity = End. Retained Earnings $5 = $5

Microsoft? No dividends from 1975 to 2003. Which business’ owners chose to keep their Net Income in the business and thereby provide additional internally-generated equity financing? Business 1 Business 2 Statement of Retained Earnings For the year ended 12/31/X1 Beginning Retained Earnings, 1/1/X1 $100 + Net Income 5,000 Dividends (5,000) = Ending Retained Earnings $5,100 $ 100 Microsoft? No dividends from 1975 to 2003.

Retained Earnings (Deficit) Title Comparative Units of measure Net reduction Capital Stock Retained Earnings (Deficit) Accumulated Other Comprehensive Income (we’ll save this for another class)

Introduction to Accounting Preparing for a User’s Perspective Preparing and Using a Statement of Stockholder Equity Debits and Credits Trainer By Kevin C. Kimball, CPA with support from www.canvas.net Free Jan. 2014 Available on the Google Play Store