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iew History Bookmarks WindowHelp 62%., Mon 8:05PM Isht edugen.wileyplus.com Reported The ctice Gradebook ORION Downloadable eTextbook ment INTER VERSON Exercise 14-10 Dirk Company reported the following balances at December 31, 2016: common stock $401,000, paid-in capital in excess of par value- common stock $105,000, and retained earnings $241,000. During 2017, the following 1. Issued preferred stock with a par value of $124,000 for $210,000 2. Purchased treasury stock (common) for $44,000. 3. Earned net income of $141,500 4. Declared and paid cash dividends of $52,000. transactions affected stockholders equity. Prepare the stockholders' equity section of Dirk Company's December 31, 2017, balance shet. DIRK COMPANY Balance Sheet (Partial) acy Policy 1 83999-20183ohn Wley & 5ons.In All Rights Reserved. A Division of 1ehn Wiley &. Sons, Inc 20 3 4Explanation / Answer
DIRK COMPANY
Balance sheet (Partial)
as on December 31,2016
DIRK COMPANY
Balance sheet (Partial)
as on December 31,2016
Stockholders equity Issued Capital Preferred stock 124000 common stock 401000 Total issued capital 525000 Additional paid in capital Paid in capital in excess of par -preferred stock [210000-124000] 86000 Paid in capital in excess of par -common stock 105000 Total additional paid in capital 191000 Total paid in capital 716000 Retained earning [241000beginning+141500Net Income -52000Dividend] 330500 Total paid in capital and retained earning 1046500 Less:Treasury stock (44000) Total stockholders equity 1002500Related Questions
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