1-Jul Retained earnings 80,000 Divident Payable 80,000 1-Aug Retained earnings 25,000 Accumulated Depreciation 25,000 1-Sep

Dividends Payable 80,000 Cash 80,000 1-Dec Retained earnings 288,000 Common stock dividends distributable 80,000 Paid-in capital in excess of par value-common stock 208,000 15-Dec Retained earnings 36,000 Dividends payable 36,000 31-Dec Income summary 355,000 Retained earnings 355,000 31-Dec No entry

Preferred Stock 1-Jan

600,000

Common Stock Dividends Distributable 1-Dec 80,000 Common Stock 1-Jan

800,000

Paid-in Capital in Excess of PV-PS 1-Jan 200,000 Paid-in Capital in Excess of PV-CS 1-Jan 300,000 1-Dec 208,000 508,000 Retained earnings 1-Jul 80,000 1-Jan 800,000 1-Aug 25,000 31-Dec 355,000 1-Dec 288,000 15-Dec 36,000 429,000 1,155,000 726,000

Hashmi Company Retained Earnings Statement December, 31st 2010 Balance, January 1st, as reported Correction for overstatement of net income in prior period (depreciation error) Balance, january 1st, as adjusted Net Income Cash dividends Stock dividends Balance, December 31st 116,000 288,000 800,000 (25,000) 775,000 355,000 1,130,000 (404,000) 726,000

Hashmi Company Balance Sheet (partial) December, 31st 2010 Stockholders' equity Paid-in capital Capital stock 6% Preferred stock, $50 par value, 12,000 shares issued and outstanding 600,000 Common stock, $5 par value, 160,000 shares issued and outstanding 800,000 Common stock dividens distributable 80,000 Total capital stock 1,480,000 Additional paid-in capital In excess of par value-preferred stock 200,000 in excess of par value-common stock 508,000 Total additional paid-in capital 708,000 Total paid-in capital 2,188,000 Retained earnings 726,000 Total stocholders'equity 2,914,000

1-Feb Retained earnings Dividends payable 1-Mar Dividends payable Cash 1-Apr No entry

90,000 90,000 90,000 90,000

Common

1-Jul Retained earnings 234,000 Common stock dividends distributable 31-Jul Common stock dividends distributable 234,000 Common stock 1-Dec Retained earnings 189,000 Dividens payable 31-Dec Income summary 350,000 Retained earnings

Common Stock Divide 31-Jul 234,000 234,000 189,000 350,000 1-Feb 1-Jul 1-Dec 513,000

Retained E

Common Stock 1-Jan 1,400,000 31-Jul 234,000 1,634,000 Common Stock Dividends Distributable 234,000 1-Jul 234,000 Retained Earnings 90,000 1-Jan 500,000 234,000 31-Dec 350,000 189,000 513,000 850,000 337,000

Pattini Corporation Balance Sheet (partial) March, 31st 2010 Stockholders' Equity Paid-in Capital Capital Stock Common stock, no par value 360000 shares issued and outstanding Retained earnings Total stockholders' equity Pattini Corporation Balance Sheet (partial) June, 30th 2010 Stockholders' Equity Paid-in Capital Capital Stock Common stock, no par value 360000 shares issued and outstanding Retained earnings Total stockholders' equity Pattini Corporation Balance Sheet (partial) September, 30th 2010 Stockholders' Equity Paid-in Capital Capital Stock Common stock, no par value 360000 shares issued and outstanding Retained earnings Total stockholders' equity Pattini Corporation Balance Sheet (partial) December, 31st 2010 Stockholders' Equity Paid-in Capital Capital Stock Common stock, no par value 360000 shares issued and outstanding Retained earnings

Total stockholders' equity

ation partial) 010

1,400,000 410,000 1,810,000

ation partial) 010

1,400,000 410,000 1,810,000

ation partial) h 2010

1,634,000 176,000 1,810,000

ation partial) 2010

1,634,000 337,000

1,971,000

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