Do Itl Review 11-4a Swifty Corporation has issued 109,000 shares of $4 par value

Question

Do Itl Review 11-4a Swifty Corporation has issued 109,000 shares of $4 par value common stock. It was authorized 494,000 shares. The paid-in capital in excess of par value on the common stock is $257,000. The corporation has reacquired 6,500 shares at a cost of $53,500 and is currently holding those shares, It also had accumulated other comprehensive income of $69,000. The corporation also has 1,300 shares issued and outstanding o 10% $104 par value preferred stock. It authorized 10,200 shares. The paid n capital n excess o par value on the preferred stock ?s $27,600. Retained earnings s 5386,000 Prepare the stockholders equity section of the balance sheet. (Enter account name only and do not provide descriptive Information.) SWIFTY CORPORATION Balance Shect (Partial) Paid-in Copital Capital Stock Preferred Stock Common Stock Total Capital Stock Additional Paid-in Capital Total Additional Paid-in Capital Total Paid-in Capital Retained Earnings Total Paid-in Capital and Retained Earnings Less Stock Total Stockholders' Equity

Explanation / Answer

SWIFTY CORPORATION

Balance Sheet (Partial) (Amounts in $)

Stockholders' Equity Paid-in Capital Capital Stock Preferred Stock (1,300 shares outstanding*$104 par) 135,200 Common Stock (109,000 shares issued*$4 par) 436,000 Total Capital Stock 571,200 Additional Paid-in Capital Paid-In Capital in Excess of Par-Preferred Stock 27,600 Paid-In Capital in Excess of Par-Common Stock 257,000 Total Additional Paid-in Capital 284,600 Total Paid-in Capital 855,800 Retained Earnings 386,000 Total Paid-in Capital and Retained Earnings 1,241,800 Accumulated Other Comprehensive Income 69,000 Less: Treasury Stock (6,500 shares) (53,500) Stockholders' Equity 1,257,300

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