Statement of Shareholder Equity

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Statement of Shareholder Equity

ABC Corporation
Statement of Shareholders’ Equity
For the Year Ended December 31, 2021
Common Stock PIC Common Stock Treasury Stock PIC Treasury Stock Retained Earnings Total Shareholders’ Equity
Balance as of January 1, 2021
1/1, sold 125,000 shares of Common Stock, par $1
7/1, repurchased 5,000 shares at $10 each for Treasury Stock
12/31, 2,000 shares of Treasury stock resold for $15 each
12/31 issued 20,000 shares of Commn Stock par $1, for $15 each
Net Income
Less: Dividends
Balance as of December 31, 2021 0 0 0 0 0 0

Balance Sheet

ABC Corporation
Balance Sheet
For the Year Ended December 31, 2021

Closing Entries

12/31/21 Closing Entries
JE # Account Titles Debit Credit
13
To close revenue and other temporary credit balance accounts to income summary
14
To close expense and other temporary debit balance accounts to income summary
15
To close income summary to retained earnings
16
To close dividends to retained earnings
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