Question: How do I solve this Problem 11-6A Your answer is partially correct. Try again. On January 1, 2014, Kessler Inc. had these stockholders' equity balances.

Problem 11-6A Your answer is partially correct. Try again. On January 1, 2014, Kessler Inc. had these stockholders' equity balances. Common Stock, $1 par (2,600,300 shares authorized, 695,600 shares issued and outstanding) Paid-in Capital in Excess of Par Value Retained Earnings $695,600 1,505,800 700,000 During 2014, the following transactions and events occurred. 1. Issued 49,500 shares of $1 par value common stock for $5 per share. 2. Issued 62,900 shares of common stock for cash at $6 per share. 3. Purchased 20,600 shares of common stock for the treasury at $3.80 per share. 4. Declared and paid a cash dividend of $142,100. 5. Earned net income of $403,500 Prepare the stockholders' equity section of the balance sheet at December 31, 2014. KESSLER INC Partial Balance Sheet December 31, 2014 Stockholders' Equity Paid-in Capital Preferred Stock 5. Earned net income of $403,500. Prepare the stockholders equity section of the balance sheet at December 31, 2014. KESSLER INC. Partial Balance Sheet December 31, 2014 Stockholders Equity Paid-in Capital Preferred Stock Total Additional Paid-in Capital Paid-in Capital in Excess of Total Paid-in Capital Retained Earnings Total Paid-in Capital and Retained Earnings Less | Treasury Stock Total Stockholders Equity 78,280
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