Donnie Hilfiger has the following balances in its stockholders\' equity accounts
ID: 2489365 • Letter: D
Question
Donnie Hilfiger has the following balances in its stockholders' equity accounts on December 31, 2015: Treasury Stock, $400,000; Common Stock, $350,000; Preferred Stock, $1,000,000; Retained Earnings, $1,600,000; and Additional Paid-in Capital, $3,200,000.
Prepare the stockholders' equity section of the balance sheet for Donnie Hilfiger as of December 31, 2015. (Amounts to be deducted should be indicated with a minus sign.)
Prepare the stockholders' equity section of the balance sheet for Donnie Hilfiger as of December 31, 2015. (Amounts to be deducted should be indicated with a minus sign.)
Explanation / Answer
DONNIE HILFIGER
Balance sheet ( Stock holders Equity section ) December 31 , 2015
Common stock 350000
Preferred stock 1000000
Additional paid in capital 3200000
Total paid in capital 4550000
Retained earnings 1600000
Total 6150000
less: Treasury stock (400000)
Total Stock holders equity 5750000.
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