From the following alphabetical list of selected accounts taken from the general

Question

From the following alphabetical list of selected accounts taken from the general ledger of Bentley Corporation as of December 31, 2XXX, select the accounts that are pan of Stockholders' Equity. Then prepare the Stockholders' Equity section of the Balance Sheet on December 31, 2XXX Accounts receivable $ 50,000 Cash dividends payable 20,000 Common stock, $10 par, 20,000 shares outstanding 200,000 Inventory 75,000 Note payable 25,000 Notes receivable 20,000 Paid-in capital In excess of par-common 350,000 Paid-in capital in excess of par-preferred 1 50,000 Preferred stock, $700 par, 10% cumulative, 1,000 shares outstanding 100,000 *Retained earnings 250,000 Unearned revenue 15,000

Explanation / Answer

Stockholders' Equity:

$ Common stock, $ 10 par, 20,000 shares 200,000 Preferred stock, $ 100 par, 10% cumulative, 1000 shares outstanding 100,000 Paid-in capital in excess of par - common 350,000 Paid-in capital in excess of par- preferred 150,000 Retained earnings 250,000 1,050,000

Related Questions

Navigate

• Browse (All)
• Browse F
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.