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Edit View History Bookmarks People Window Help My UNC CharlotteWileyPLUS https:/

ID: 2587619 • Letter: E

Question

Edit View History Bookmarks People Window Help My UNC CharlotteWileyPLUS https://edugen.wileyplus.com/edugen/student/mainfr.uni IS Kimmel, Financial Accounting, Be Exercise 11-10 The following accounts appear in the ledger of Marin Inc. after the books are closed at December 31, 2017. Common Stock (no-par, $2 stated value, 406,500 shares authorized, 275,500 shares issued) Paid-in Capital in Excess of Stated Value-Common Stock Preferred Stock ($55 par value, 896, 48,500 shares authorized, 14,100 shares issued) Retained Earnings Treasury Stock (7,250 common shares) Paid-in Capital in Excess of Par Value-Preferred Stock Accumulated Other Comprehensive Loss $551,000 1,111,000 775,500 941,000 64,450 25,950 34,100 Prepare the stockholders' equity section at December 31, assuming $100,000 of retained earnings is restricted for plant expansion. (E information. MARIN INC. December 31, 201

Explanation / Answer

Shareholder's equity

Shareholder's equity Contributed capital Paid in capital Common stock 551000 Preferred stock 775500 Total Legal Capital 1326500 Additional paid in capital Paid in capital In excess of stated value-common stock 1111000 Paid in capital in excess of par value-preferred stock 25950 Total Additional paid in capital 1136950 Total Paid in capital 2463450 Retained earnings 941000 3404450 Accumlated other comprehesive loss (34100) Less: Treasury stock (64450) Total stockholder's equity 3305900
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