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Question 6 View Policies Current Attempt in Progress The stockholders equity accounts of Blue Spruce Corp. on January 1, 201
Date Account Titles and Explanation Debit Credit Feb. 1 Cash 30180 Common Stock 15090 Pald-in Capital in Excess of Par Value-
s.com/courses/28444/assignments/2720300?module_item_id=9236078 Dec 31 Income Summary 280100 Retained Earnings 280100 (To reco
the beginning balances in the accounts and post the journal entries to the stockho Preferred Stock Common Stock Paid-in Capit
n.wileyplus.com/courses/28444/assignments/2720300?module item id=9236078 Cash Dividends Treasury Stock eTextbook and Media Li
Partial Balance Sheet
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Answer #1
Preferred stock
Balance as on Jan 1 2017 258000
Balance as on December 31 2017 258000
Common stock
Balance as on Jan 1 2017 852500
Issuance on Feb 1 15090
Balance as on December 31 2017 867590
Paid in capital in excess of par -Preferred stock
Balance as on Jan 1 2017 12900
Balance as on December 31 2017 12900
Paid in capital in excess of stated value -common stock
Balance as on Jan 1 2017 545600
Issue of shares on Feb 1 15090
Balance as on December 31 2017 560690
Retained earning
Cash dividend 247198 Balance as on Jan 1 2017 687500
Net Income 280100
Balance as on December 31 2017 720402
Treasury stock
Balance as on Jan 1 2017 34400
March 20 Additional purchase 15300
Balance as on December 31 2017 49700
Cash dividend
Oct 1 20640 Dec 31 247198
Dec 1 226558
Balance as on December 31 2017 0

c)

Partial Balance sheet

as on December 31 2017

Stockholders equity
Paid in capital
Capital stock
Preferred stock (8%,$100par non cumulative 4300 shares authorized] 258000
common stock 867590
Total capital stock 1125590
Additional paid in capital
Paid in capital in excess of par -Preferred stock 12900
Paid in capital in excess of stated value-common stock 560690
Total additional paid in capital 573590
Total paid in capital 1699180
Retained earning 720402
Total paid in capital and retained earning 2419582
Less:Treasury stock -49700
Total stockholders equity 2369882
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