Question

CALCULATOR FULL SCREEN PR Exercise 11-9 The following stockholders' equity accounts, arranged alphabetically, are in the ledger of Novak Corp. at December 31, 2017 Common Stock ($4 stated value) $2,080,000 Pald-in Capital in Excess of Par Value--Preferred Stock 58,500 Paid-in Capital in Excess of Stated Value-Common Stock 1,365,000 Preferred Stock (6%, $100 par, noncumulative) 780,000 Retained Earnings 1,734,200 Treasury Stock (15,600 common shares) 93,600 Prepare the stockholders' equity section of the balance sheet at December 31, 2017. (Enter account name only and do not provide descriptive information.) NOVAK CORP. Partial Balance Sheet $ rivacy Policy 1 2010-2020 John Wiley On All Rights Reserved. A Division of John Wiley Sons, Inc

Answer 1

Novak Corporation
Balance sheet (partial)
(Stockholder's Equity Section)
At December 31, 2017
Stockholder's Equity:
Capital stock
Common stock	$ 20,80,000
Preferred stock	$ 7,80,000
Total capital stock		$ 28,60,000
Additional Paid - in - Capital
Paid - in - capital in excess of par - Common stock	$ 13,65,000
Paid - in - capital in excess of par - Preferred stock	$   6,60,000
Total Additional Paid - in - Capital		$ 20,25,000
Total Paid - in Capital		$ 48,85,000
Retained earnings		$ 17,34,200
Total Paid - in Capital and Retained earnings		$ 66,19,200
Less: Treasury Stock		$ -93,600
Total Stockholder's Equity		$ 65,25,600