Exercise 10-46 (Algorithmic) Prepare the Stockholders\' Equity Section Sabina In

Question

Exercise 10-46 (Algorithmic) Prepare the Stockholders' Equity Section Sabina Investigations has the following accounts on its trial balance Debit Credit Retained earnings Cash Paid-in capital in excess of par-common Paid-in capital in excess of par-preferred Accounts payable Accounts receivable Common stock, $2 par Preferred stock, $10 par Inventory Treasury stock-common (40,000 shares) Accumulated other comprehensive income 1,500,000 125,000 10,000,000 2,000,000 75,000 150,000 800,000 600,000 500,000 250,000 48,100

Explanation / Answer

Stockholder Equity section Particulars Amount in $ Common stock, $2 par 800000 Prefferred stock $10 par 600000 paid in capital in excess of par value-preferred stock 2000000 paid in capital in excess of par value-common stock 10000000 Retained Earnings 1500000 Less - Treasury stocks( common 40000 shares) -250000 Accumulated other comprehensive income 48100 Total stockholder's equity 14698100

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