Exercise 11-9 The following stockholders\' equity accounts, arranged alphabetica

Question

Exercise 11-9 The following stockholders' equity accounts, arranged alphabetically, are in the ledger of Roder Corporation at December 31, 2014. Common Stock ($2 stated value) Paid-in Capital in Excess of Par Value-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Preferred Stock (8%, $100 par, noncumulative) $1,664,000 46,800 1,092,000 624,000 1,387,360 74,880 Treasury Stock (12,480 common shares) Prepare the stockholders' equity section of the balance sheet at December 31, 2014 RODER CORPORATION Partial Balance Sheet December 31, 2014

Explanation / Answer

Stockholders’ equity Paid-in capital Capital stock 8% Preferred stock, $100 par value, noncumulative, 6,240 shares issued 624000 Common stock, no par, $2 stated value, 832,000 shares issued and 819,520 shares outstanding 1664000 Total capital stock 2288000 Additional paid-in capital In excess of par—preferred stock 46800 In excess of stated value— common stock 1092000 Total additional paid-in capital 1138800 Total paid-in capital 3426800 Retained earnings 1387360 Total paid-in capital and retained earnings 4814160 Less: Treasury stock (12,480 common shares) -74880 Total stockholders’ equity 4739280

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