From the following partial mixed list, select the appropriate titles and prepare
ID: 2604000 • Letter: F
Question
From the following partial mixed list, select the appropriate titles and prepare a stockholders’ equity section using the source-of-capital approach as shown in the Blueprint example for Ununoctium Corporation on July 31, 201X.
Office Equipment
$110,000
Land
215,000
Paid-In Capital in Excess of Par Value-Preferred Stock
85,000
Building
70,000
Accounts Receivable
135,000
Notes Receivable
38,000
Organization Costs
10,500
Common Stock, $8 par value (60,000 shares issued and outstanding; 85,000 shares authorized)
81,000
Retained Earnings
200,000
Subscriptions Receivable-Common Stock
81,000
Patents
12,000
Preferred 17% Stock, $49 par value (6000 shared issued; 8,500 shared authorized)
294,000
Common Stock Subscribed at Par
240,000
Paid-In Capital in Excess of Par Value-Common Stock
17,000
Office Equipment
$110,000
Land
215,000
Paid-In Capital in Excess of Par Value-Preferred Stock
85,000
Building
70,000
Accounts Receivable
135,000
Notes Receivable
38,000
Organization Costs
10,500
Common Stock, $8 par value (60,000 shares issued and outstanding; 85,000 shares authorized)
81,000
Retained Earnings
200,000
Subscriptions Receivable-Common Stock
81,000
Patents
12,000
Preferred 17% Stock, $49 par value (6000 shared issued; 8,500 shared authorized)
294,000
Common Stock Subscribed at Par
240,000
Paid-In Capital in Excess of Par Value-Common Stock
17,000
Explanation / Answer
stockholders’ equity
July 31, 201X
Note:- Subscriptions Receivable-Common Stock is part of current assets
Paid in capital: Preferred 17% Stock, $49 par value (6000 shared issued; 8,500 shared authorized) 294,000 Paid-In Capital in Excess of Par Value-Preferred Stock 85,000 379000 Common Stock, $8 par value (60,000 shares issued and outstanding; 85,000 shares authorized) 81,000 Common Stock Subscribed at Par 240,000 Paid-In Capital in Excess of Par Value-Common Stock 17,000 338000 Total paid in capital 717000 Retained Earnings 200,000 Total stockholders’ equity $917000Related Questions
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