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Use the following information to prepare a statement of stockholders' equity for the year end ed December
31, 2011.
E. Flynn Company had $100,000 of contributed capital and $35,000 of retained earnings at January 1, 2011. The following transactions occurred during the year 2011:
- Issued stock to investors for cash, $42,000.
Hindsight Bias
The inclination to see events that have already occurred as being more predictable than they were before they took place.
Critical Thinking
Dedicated to an in-depth inspection and critique of a problem with the intent of deriving a verdict.
Overconfidence
Overconfidence is a cognitive bias in which a person's subjective confidence in their abilities or outcomes exceeds the objective accuracy of those assessments.
Hypothesis
A tentative explanation put forward based on minimal evidence, intended as a preliminary point for more detailed research.
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