When Resisto Systerre, lrc., ses formed, tit corrperyne: autrized lo ssue 5.000

Question

When Resisto Systerre, lrc., ses formed, tit corrperyne: autrized lo ssue 5.000 steres of S100 per velue, prefered stock. "d 100,000 :hares o, $2 seed velve con"ror stock. percent cumu are l lelf ofthe preferes stock sous issued sta prise ors101 per shsre, ent4.000 s'leres ofthe corriuri sicei nere sod for shee. Al tit erd othe curert Year. Res sto has reisired eer rirqs. $162,000 24 : a.-repere te scockholders' eoly sector ofte ogripeny's balance s.ieet al tie end orth: current Year Stockhoidiers' Equty 3,00 S E4,0D

Explanation / Answer

Workings

Stockholder Equity Common Stock 500000 Preferred Stock 200000 Additional paid-in Capital Cumulative preferred stock 10000 Common Stock 256000 Total paid in capital 966000 Retained earnings 382000 Total stockholders' equity 1348000

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