Question

ABC Company had the following accounts (among others) in its general ledger at December 31, 20X5: Bonds payable, 8%, due in 5 years.. Premium on bonds payable ....... "Premium" on preferred stock ......! Cash dividend payable on common stock Stock dividend payable on common stock, 10% Sinking fund .......... Subscription receivable ........... Additional paid-in capital, common stock'.. Investment in U. S. Treasury notes ..... Treasury stock, at cost of $100 per common share..... Preferred stock, $10 par, 6% dividend, 100,000 shares authorized, _shares issued, _ shares outstanding ..... Reserve for sinking fund .......... Common stock subscribed, 1,000 shares .. Retained earnings, unappropriated ........ Common stock, $_ stated value, 60,000 shares authorized, 24,400 shares outstanding .... $ 80,000 8,000 17,600 9,000 10,000 37,000 1,800 30,200 24,000 60,000 200,000 37,000 4,000 263,000 100,000 Using the applicable information from the above listing, prepare a statement of stockholders' equity at December 31, 20X5, in the best form you can.

Answer 1

Particulars	Amount ($)	Amount ($)
Stockholders equity:
Preferred stock (100,000 authorised, issued and outstanding of 20,000 shares) @ $10 par value		$200,000
Common stock authorised-60,000 shares outstanding-24,400 shares @ 4 par value	$100,000
Common stock subscribed 1,000 shares	$4,000	$104,000
		$304,000
Additional-paid-in-capital on
Preferred stock	$17,600
Common stock	$30,200	$47,800
Total paid in capital		$351,800
Retained earnings		$263,000
		$614,800
Less: Treasury stock of 600 common stock at a cost of $100 per stock		$60,000
Total stockholders' equity		$554,800