E11-9 The following stockholders equity accounts, arranged alphabetically, are i

Question

E11-9 The following stockholders equity accounts, arranged alphabetically, are in the ledger of Roder Corporation at December 31, 2014.

Prepare a stockholders%u2019 equity section.

Common Stock ($2 stated value)

$1,600,000

Paid-in Capital in Excess of Par Value -Preferred Stock

     45,000

Paid-in Capital in Excess of Stated Value -Common Stock

  1,050,000

Preferred Stock (8%, $100 par, noncumulative)

    600,000

Retained Earnings

  1,334,000

Treasury Stock (12,000 common shares)

     72,000

Common Stock ($2 stated value)

                       

$1,600,000

                       

Paid-in Capital in Excess of Par Value -Preferred Stock

                       

     45,000

                       

Paid-in Capital in Excess of Stated Value -Common Stock

                       

  1,050,000

                       

Preferred Stock (8%, $100 par, noncumulative)

                       

    600,000

                       

Retained Earnings

                       

  1,334,000

                       

Treasury Stock (12,000 common shares)

                       

     72,000

Explanation / Answer

Hi,

Please find the answer as follows:

Thanks.

Capital Stock
Preferred Stock (8%, $100 par, noncumulative) 600000 Common Stock ($2 stated value) 1600000 Total Capital Stock 2200000

Additional Paid-In capital
Paid-in Capital in Excess of Par Value-Preferred Stock 45000 Paid-in Capital in Excess of Stated Value-Common Stock 1050000 Total Paid-In Capital (2200000 + 45000 + 1050000) 3295000

Retained Earnings
Total Paid-In capital and Retained Earnings 4629000 Less Treasury Stock (12,000 common shares) 72000 Total Stockholders' Equity 4557000

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