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

Question

The following stockholders' equity accounts, arranged alphabetically, are in the ledger of DC Corporation at December 31, 2014.

Common Stock ($10 stated value) $5,000,000

Paid-in Capital in Excess of Par Value--Preferred Stock $90,000

Paid-in Capital in Excess of Stated Value--Common Stock $2,100,000

Preferred Stock (8%, $100 par, noncumulative) $2,000,000

Retained Earnings $3,268,000

Treasury Stock--Common (20,000 shares) $196,000

Instructions: Prepare the stockholders' equity section of the balance sheet at December 31, 2014.

Explanation / Answer

Capital stock Preferred Stock (8%, $100 par, noncumulative) 20,00,000 Common Stock ($10 stated value) 50,00,000 Total capital stock 70,00,000 Additional paid-in capital Paid-in Capital in Excess of Par Value--Preferred Stock 90,000 Paid-in Capital in Excess of Stated Value--Common Stock 21,00,000 Total paid-in capital 21,90,000 Retained earnings 32,68,000 Total paid-in capital and retained earnings 1,24,58,000

Related Questions

Navigate

• Browse (All)
• Browse T
• Subjects

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