the following balances were shown on the year end balance sheets for 2007 and 2008 f 541410
E8-10B. Analyze equity accounts(.L O 1,2,3,5)
The following balances were shown on the year-end balance sheets for 2007 and 2008 for High Note Publishing Company. For each item, give the most likely reason for the change from one year to the next.
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the following balances were shown on the year end balance sheets for 2007 and 2008 f 541410
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|
12/31/07 |
12/31/08 |
Explanation |
|
|
Common stock |
$ 35,000 |
$43,000 |
|
|
Paid- in capital |
$115.000 |
155,000 |
|
|
Retained earnings |
$142,000 |
*$160,500 |
|
|
Treasury stock |
$ (2,125) |
$ (2,625) |
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