B D 1 The following stockholders' equity accounts arranged alphabetically are in the ledger of Galindo...

Transcribed Image Text:

B D 1 The following stockholders' equity accounts arranged alphabetically are in the ledger of Galindo Corporation at December 31, 2014. Common Stock ($5 stated value) Paid-in Capital from Treasury Stock Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Preferred Stock (8%, $50 par, noncumulative) Retained Earnings Treasury Stock (10,000 common shares) $2,000,000 10,000 679,000 1,600,000 800,000 1,748,000 130,000 Instructions Prepare the stockholders' equity section at December 31, 2014. NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a "?". GALINDO CORPORATION Stockholders' equity Paid-in capital Capital stock 8% Preferred stock, $50 par noncumulative, 16,000 shares issued and outstanding Common stock, no par, $5 stated value, 400,000 shares issued and 390,000 outstanding Total capital stock Additional paid-in capital In excess of par-preferred stock $679,000 In excess of stated value-common stock 1,600,000 From treasury stock 10,000 Total additional paid-in capital Retained earnings Total paid-in capital Total paid-in capital and retained earnings Less: Treasury stock (10,000 shares) Total stockholders' equity 2,289,000 5,089,000 1,748,000 (679,000+1,600,000+ 10,000) (2,289,000+2,800,000) 6,837,000 (2,289,000+5,089,000 $130,000 $6,707,00 (6,837,000-130,000) p.4 B D 1 The following stockholders' equity accounts arranged alphabetically are in the ledger of Galindo Corporation at December 31, 2014. Common Stock ($5 stated value) Paid-in Capital from Treasury Stock Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Preferred Stock (8%, $50 par, noncumulative) Retained Earnings Treasury Stock (10,000 common shares) $2,000,000 10,000 679,000 1,600,000 800,000 1,748,000 130,000 Instructions Prepare the stockholders' equity section at December 31, 2014. NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a "?". GALINDO CORPORATION Stockholders' equity Paid-in capital Capital stock 8% Preferred stock, $50 par noncumulative, 16,000 shares issued and outstanding Common stock, no par, $5 stated value, 400,000 shares issued and 390,000 outstanding Total capital stock Additional paid-in capital In excess of par-preferred stock $679,000 In excess of stated value-common stock 1,600,000 From treasury stock 10,000 Total additional paid-in capital Retained earnings Total paid-in capital Total paid-in capital and retained earnings Less: Treasury stock (10,000 shares) Total stockholders' equity 2,289,000 5,089,000 1,748,000 (679,000+1,600,000+ 10,000) (2,289,000+2,800,000) 6,837,000 (2,289,000+5,089,000 $130,000 $6,707,00 (6,837,000-130,000) p.4