Question

Exercise 11-14 

The following stockholders' equity accounts, arranged alphabetically, are in the ledger of Blue Spruce Corp. at December 31, 2022.

Common Stock ( $ 2 stated value)

$ 3,120.000

Paid-in Capital in Excess of Par Value- Preferred Stock.

Paid-in Capital in Excess of Stated Value-Common 5 tock

67,750

Preferred Stock (6%, $ 100 par, noncumulative)

1,170,000

Retained Earnings

2.601,300

Treasury 5tock (23,400 common shares)

140,400

Prepare the stockholders' equity section of the balance sheet at December 31, 2022. 

Answer 1

BLUE SPRUCE CORP.
Partial Balance Sheet
December 31, 2022
Shareholder equity
Paid - in Capital
Capital stock:
Preferred Stock	$1,170,000
Common stock	$3,120,000
Total capital stock		$4,290,000
Additional paid-in capital:
Paid-in capital in excess of par value - Preferred stock	$87,750
Paid-in capital in excess of stated value - Common stock	$2,047,500
Total Additional paid-in capital		$2,135,250
Total Paid-In Capital     [Total capital stock + Total additional paid-in capital]		$6,425,250
Retained Earnings		$2,601,300
Total Paid-In Capital and Retained Earnings		$9,026,550
Less: Treasury stock;		$140,400
Total Stockholders' Equity		$8,886,150