PR 2010A Guided go Instructions Generalized Statement olders Equity Section 1. P

Question

PR 2010A Guided go Instructions Generalized Statement olders Equity Section 1. Prepare the stockholders' equity section of the balance sheet for Jackson for the year ended December 31, 20- After closing its books on December 31, 20, Jackson Corporation's stockholders' equity accounts had the following balances: Balance Addltlonal Information Preferred Stock Subscriptions Receivable Common Stock Subscriptions Receivable Preferred Stock Subscribed Common Stock Subscribed Preferred Stock Common Stock Paid-In Capital in Excess of Par-Preferred Stock Paid-In Capital from Sale of Treasury Stock Common Treesury Stock Retained Earnings $13,150 9,700 57,750 $4 dividend, $5 par, 11,550 shares 29,500 $10 par, 2,950 shares 156,750 $4 dividend, $5 par, 31,350 Shares 243,500 $10 par, 24,350 shares 10,400 1,080 76,150 0 more Check My Work uses remaining

Explanation / Answer

Jackson Corporation Stockholder's Equity December 31, 20-- Paid in Capital Preferred stock, $4 dividends, $5 par, 31350 shares 156750 Preferred stock subscribed $4 dividends, $5 par, 11550 shares 57750 214500 Common stock, $10 par, 24350 shares 243500 Common stock subscribed, $10 par, 2950 shares 29500 273000 Additional paid in capital Paid in capital in excess of par-preferred stock 10400 Paid in capital from sale of treasury stock 1080 11480 Total paid in capital 498980 Retained earnings 76150 575130 Less Preferred stock subscriptions receivable 13150 Less Common stock subscriptions receivable 9700 Less Treasury stock 10700 33550 Total stockholder's equity 608680

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