PLEASE help.Thanks 2. The following information has been provided by Meyers Comp

Question

PLEASE help.Thanks

2. The following information has been provided by Meyers Company as of December 31 20XX $ 4,500 141,000 150,000 1,800 Unearned rent Retained earnings (unrestricted) Common stock, $5 par Premium on bonds payable Bonds payable Additional paid-in capital on common stock Treasury stock, at cost Retained earnings restricted for plant expansion 28,000 55,000 29,000 17,000 31,250 Sinking fund for bond retirement Required: Prepare the shareholders' equity section of the balance sheet for Meyers.

Explanation / Answer

Meyers Company

Balance Sheet ( Partial )

For the year ended December 31, 20XX

Stockholders' Equity $ $ Contributed Capital Common Stock, $ 5 par 150,000 Additional Paid-in Capital : Common Stock 55,000 Total Contributed Capital 205,000 Retained Earnings Retained Eanings ( Unrestricted) 141,000 Retained Earnings ( Restricted) 17,000 Total Retained Earnings 158,000 Total 363,000 Less: Treasury Stock at cost (29,000) Total Stockholders' Equity 334,000

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