The following stockholders\' equity accounts, arranged alphabetically, are in th

Question

The following stockholders' equity accounts, arranged alphabetically, are in the ledger of Patel Corporation at December 31, 2012. Common stock ($2 stated value) 1,600,000 Paid-in capital in excess of par value--preferred stock 45,000 Paid-in capital in excess of stated value --common stock 1,050,000 Preferred stock (8%, $100 par, noncumulative) 600,000 Retained earnings 1,334,000 Treasury stock--common (12,000 shares) 72,000 Prepare the stockholders' equity section of the balance sheet at December 31, 2012.

Explanation / Answer

i have made balance sheet for the following data - The following stockholders' equity accounts arranged alphabetically are in the ledger of McGrath Corporation at December 31, 2011. Common Stock ($10 stated value) $1,500,000 Paid-in Capital from Treasury Stock 6,000 Paid-in Capital in Excess of Stated Value-Common Stock 690,000 Paid-in Capital in Excess of Par Value-Preferred Stock 288,400 Preferred Stock (8%, $100 par, noncumulative) 400,000 Retained Earnings 776,000 Treasury Stock-Common (8,000 shares) 88,000 just change the data in the solution written below and u r done -- MCGRATH CORPORATION Stockholders' Equity December 31, 2011 Capital stock Preferred stock (8%, $100 par, noncumulative) . . . . . . . . . . . . . . . .$ . 400,000 Common stock ($10 stated value) . . . . . . . . . . . . . . . . . . . . . . . . . .1,500,000 Total capital stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1,900,000 Additional paid-in capital Paid-in Capital in Excess of Par Value-Preferred Stock . . .$288,400 Paid-in Capital in Excess of Stated Value-Common Stock . 690,000 Paid-in Capital from Treasury Stock . . . . . . . . . . . . . . . . . . .6,000 . . .984,400 Total paid-in capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,884,400 Retained earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .776,000 Total paid-in capital and retained earnings . . . . . . . . . . . . . . . . . . . . 3,660,400 Less: Treasury stock-common (8,000 shares) . . . . . . . . . . . . . . . . . . . .88,000 Total stockholders' equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $3,572,400

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