The following are data for the Foin Corporation on December

The following are data for the Foin Corporation on December 31, 20X8:
6% cumulative preferred stock, $40 par value, callable at $42, authorized
100,000 shares, issued and outstanding 100,000 shares ...... $ 4,000,000
Treasury stock, common (at cost) .............. 5,000,000
Additional paid-in capital, common stock ............ 9,000,000
Dividends payable .................... 200,000
Retained earnings .................... 15,000,000
Additional paid-in capital, preferred stock ........... 1,250,000
Common stock, $2.50 par value per share, authorized 1.8 million shares,
issued 1.2 million shares of which 60,000 are held in the treasury ....3,000,000
Prepare a detailed stockholders’ equity section as it would appear in the balance sheet at December 31, 20X8.

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...
Balance Sheet
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...
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...
Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...


  • Access to 2 Million+ Textbook solutions
  • Ask any question from 24/7 available



Get help from Accounting Tutors
Ask questions directly from Qualified Online Accounting Tutors .
Best for online homework assistance.