Question

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Exercise 11-9 The following stockholders' equity accounts, arranged alphabetically, are in the ledger of Grouper Corp. at December 31, 2017 $1,760,000 49,500 Common Stock ($2 stated value) Paid-in Capital in Excess of Par Value-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock1,155,000 Preferred Stock (696, $100 par, noncumulative) Retained Earnings Treasury Stock (13,200 common shares) 660,000 1,467,400 79,200 Prepare the stockholders' equity section of the balance sheet at December 31, 2017. (Enter account name only and do not provide descriptive information GROUPER CORP Partial Balance Sheet

Answer 1

ANSWER:

PARTIAL BALANCE SHEET:

Stockholder's Equity
Paid-In-Capital
Capital Stock
Preferred Stock		660,000
Common stock		1,760,000
Total capital stock		2,420,000
Additional paid in capital
Paid-in Capital in Excess of Par-Preferred Stock	49,500
Paid-in Capital in Excess of Stated Value-Common Stock	1,155,000
Total Additional paid in capital		1,204,500
Total Paid in capital		3,624,500
Retained Earnings		1,467,400
Total Paid in capital and Retained Earnings		5,091,900
Minus: Treasury Stock		-79,200
Total Stockholder's Equity		5,012,700