History Bookmarks Window Help 53% 0 edugen.wileyplus.com nline English Subbed Wi

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History Bookmarks Window Help 53% 0 edugen.wileyplus.com nline English Subbed WileyPLUS The Following Accounts Appear WileyPLUS: MyWileyPLUs I Hel ACCOUNTING PRINCIPLES Weygandt, Accounting Principles, 12e Assignment Gradebook ORION Downloadable eTextbook ent FULL SCREEN PRINTER VERSTON Exercise 14-11 The following accounts appear in the ledger of Horner Inc. after the books are closed at December 31. Common Stock, no par, $3 stated value, 393,000 shares authorized; 282,000 shares issued 846,000 Common Stock Dividends Distributable 29,000 130,000 153,000 814,000 89,700 Pald-in Capital in Excess of Stated Value-Common Stock Preferred Stock, $6 par value, 89, 36,000 shares authorized; 25,500 shares issued Retained Earnings Treasury Stock (11,500 common shares) Paid-in Capital in Excess of Par-Preferred Stock 350,000 Prepare the stockholders' equity section at December 31, assuming retained earnings is restricted for plant expansion in the $100,000. (Enter account name only and do not provide descriptive information.) HORNER INC. Balance Sheet (Partial). 20 F7 F10 2 F3 FS 19

Explanation / Answer

Stockholder's equity Capital Stock: Preferred stock,$6 par value, 8% ,36000 shares authorized;25500 shares issued 153000 Common stock,no par,$3 stated value,393000 shares authorized;282000 shares issued 846000 Common stock dividend distributable 29000 875000 Additional paid-in-capital Paid-in capital in excess of par Value - preferred stock 350000 Paid-in capital in excess of stated value - common stock 130000 Retained earnings 814000 Treasury stock (11500 common shares) 89700 Total stockhoder's equity 2411700 Note:Retained earnings restricted for plant expansion amounted to $100,000

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