BRACC × MGO | US Tax Internship Training
Statement of Changes in Equity
A very basic SOCIE exercise. Follow what happened to each equity account during the year and calculate the ending balances.
Your task: Prepare a simple Statement of Changes in Equity using the information below. Then enter the four ending balances.
| Information | Amount |
|---|
Keep the logic simple
Ending Common Stock = Beginning Common Stock + Common Stock issued
Ending APIC = Beginning APIC + APIC from new shares
Ending Retained Earnings = Beginning Retained Earnings + Net Income − Dividends
Total Ending Equity = Common Stock + APIC + Retained Earnings
Final Check
MGO training use only • BRACC Tax Lab