The following stockholders equity accounts, arranged alphabetically, are in the ledger of Borkowski Corporation at December 31,
Question:
The following stockholders’ equity accounts, arranged alphabetically, are in the ledger of Borkowski Corporation at December 31, 2012.
Corporation at December 31, 2012.
Common Stock ($5 stated value)……………………………………… $1,700,000
Paid-in Capital in Excess of Par—Preferred Stock……………………….. 280,000
Paid-in Capital in Excess of Stated Value—Common Stock……………... 900,000
Preferred Stock (8%, $100 par, noncumulative)…………………………...500,000
Retained Earnings………………………………………………………. 1,134,000
Treasury Stock (10,000 common shares)………………………………… 120,000
Instructions
Prepare the stockholders’ equity section of the balance sheet at December 31, 2012.
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial... Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
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Related Book For
Accounting Principles
ISBN: 978-0470534793
10th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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