Exercise 14-11

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The following accounts appear in the ledger of Horner Inc. after the books are closed at December 31.

Common Stock, no par, $1 stated value, 376,000 shares authorized; 284,000 shares issued		$ 284,000
Common Stock Dividends Distributable		25,500
Paid-in Capital in Excess of Stated ValueCommon Stock		130,000
Preferred Stock, $5 par value, 8%, 38,500 shares authorized; 29,500 shares issued		147,500
Retained Earnings		750,000
Treasury Stock (11,000 common shares)		82,500
Paid-in Capital in Excess of ParPreferred Stock		350,000

Prepare the stockholders equity section at December 31, assuming retained earnings is restricted for plant expansion in the amount of $110,000.

Stockholders' Equity Paid-in Capital Capital Stock Preferred Stock 147500 Common Stock Dividends Distributable 25500 Common Stock Dividends Distributable Total Capital Stock Additional Paid-in Capital > Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Stated Value-Commor 130000 Total Additional Paid-in Capital Total Paid-in Capital Retained Earnings 750000 Total Paid-in Capital and Retained Earnings Less 82500 Treasury Stock Total Stockholders' Equity