The following are several of Graf Corporations accounts at the end of 2019: Account .................................................................................................Credit Balance Common

Question:

The following are several of Graf Corporation’s accounts at the end of 2019:

Account .................................................................................................Credit Balance
Common Stock, $10 par ...........................................................................$ 47,100
Bonds Payable (due 2020) ..........................................................................126,000
Additional Paid-in Capital on Preferred Stock ...........................................39,600
Retained Earnings .......................................................................................209,000
Premium on Bonds Payable ........................................................................12,300
Unearned Rent ...............................................................................................4,800
Preferred Stock, $100 par ............................................................................65,400
Additional Paid-in Capital on Common Stock ............................................53,900
Unfunded Accrued Pension Cost .................................................................18,400
Treasury Stock (cost) ....................................................................................(7,600) debit
Accumulated Other Comprehensive Income .............................................8,200


Required:
Prepare the shareholders’ equity section of Graf’s 2019 ending balance sheet.

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...
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Related Book For  answer-question

Intermediate Accounting Reporting and Analysis

ISBN: 978-1337788281

3rd edition

Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach

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