Preferred Stock: 10%, $200 par value; 7,000 shares authorized; 3,200 shares issued and outstanding; Paid-in Capital...
Preferred Stock: 10%, $200 par value; 7,000 shares authorized; 3,200 shares issued and outstanding; Paid-in Capital in Excess of Par Value—Preferred Stock, $9,600. Common Stock: $60 par value; 20,000 shares authorized; 9,500 shares issued and outstanding; Paid-in Capital in Excess of Par Value—Common Stock, $11,400. Retained Earnings: Total, $125,000; appropriated for warehouse construction, $50,000.
Using this information, prepare the Stockholders’ Equity section of
the corporation’s balance sheet
Homework Answers
|
Stockholders’ Equity section of the corporation’s balance sheet |
|
|
Particulars |
Amount ($) |
|
Preferred Stock: 10%, $200 par value, 3,200 shares issued and outstanding |
$640000 (3200*$200) |
|
Common Stock: $60 par value, 9,500 shares issued and outstanding |
$570000 ($60*9500) |
|
Additional Paid – in – Capital |
$21000 ($9600 + $11400) |
|
Retained Earnings |
$125000 |
|
Total Stockholders’ Equity |
$1356000 |
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Issued 45,500 shares of $1 par
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