Question 4. The following are selected accounts for the Alpha Dog Company after
ID: 2331041 • Letter: Q
Question
Question 4.
The following are selected accounts for the Alpha Dog Company after all Fiscal Year December 31, 2016, adjusting entries & closing entries have been posted. All balances are normal.
Account
Amount
Common Stock, $6 par
$240,000
Treasury Stock, at cost $10 per share
30,000
Dividends Payable
5,000
Paid in Capital in excess of par, Common Stock
35,000
Paid in Capital in excess of par, Preferred Stock
7,500
Retained Earnings
260,000
Bonds Payable
75,000
Preferred Stock, $100 par, 5% cumulative
55,000
On December 31, 2016, Common Stock was authorized 50,000 shares and Preferred Stock was authorized 5,000 shares. Prepare only the Stockholder's Equity section of the Classified Balance Sheet for the year end. Be sure to use a good format, dollar signs and single underlines were required. There are a few extra lines in the formatted input answer form to allow for acceptable balance sheet format variations.
Answer Sheet:
Partial Balance Sheet:
Alpha Dog Company
Balance Sheet (partial)
December 31, 2016
Stakeholders Equity
Capital Stock:
Preferred Stock, 100 par, 5% cummulative, 5,000 shares authorized,_______ shares issued and outstanding
Fill in the blanks: Common Stock, $6 par, ________ shares authorized, ________shares issued and_______shares outstanding
Additional Paid in Capital:
Paid in Capital in Excess Par - Preferred Stock
Paid in Capital in Excess of Par - Common Stock
Total Paid in Capital
Retained Earnings
Less Trasury Stock
Total Stockholders' Equity
Account
Amount
Common Stock, $6 par
$240,000
Treasury Stock, at cost $10 per share
30,000
Dividends Payable
5,000
Paid in Capital in excess of par, Common Stock
35,000
Paid in Capital in excess of par, Preferred Stock
7,500
Retained Earnings
260,000
Bonds Payable
75,000
Preferred Stock, $100 par, 5% cumulative
55,000
Explanation / Answer
Answer:
Partial Balance Sheet:
Alpha Dog Company
Balance Sheet (partial)
31-Dec-16
Stakeholders Equity
Capital Stock:
Preferred Stock, 100 par, 5% cumulative,
5,000 shares authorized,550 shares issued and outstanding
55000
Fill in the blanks: Common Stock, $6 par,50,000 shares authorized, 40,000 shares issued and 37,000 shares outstanding
240,000
295,000
Additional Paid in Capital:
Paid in Capital in Excess Par - Preferred Stock
35000
Paid in Capital in Excess of Par - Common Stock
7500
42500
Total Paid in Capital
337,500
Retained Earnings
260,000
Less Trasury Stock
30,000
Total Stockholders' Equity
567,500
Partial Balance Sheet:
Alpha Dog Company
Balance Sheet (partial)
31-Dec-16
Stakeholders Equity
Capital Stock:
Preferred Stock, 100 par, 5% cumulative,
5,000 shares authorized,550 shares issued and outstanding
55000
Fill in the blanks: Common Stock, $6 par,50,000 shares authorized, 40,000 shares issued and 37,000 shares outstanding
240,000
295,000
Additional Paid in Capital:
Paid in Capital in Excess Par - Preferred Stock
35000
Paid in Capital in Excess of Par - Common Stock
7500
42500
Total Paid in Capital
337,500
Retained Earnings
260,000
Less Trasury Stock
30,000
Total Stockholders' Equity
567,500
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