The following stockholders\' equity accounts, arranged alphabetically, are in th

Question

The following stockholders' equity accounts, arranged alphabetically, are in the ledger of Marvel Corporation at December 31, 2014. Common Stock ($5 stated value) $2,800,000 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) 1,000,000 Retained Earnings 1,684,000 Treasury Stock (10,000 shares) 98,000 Prepare the stockholders' equity section of the balance sheet at December 31, 2014.

Explanation / Answer

MARVEL CORPORATION Stockholders Equity At the end of the year 31st December, 2014 Common stock (Face value of $5) $       280,000 Prefered stock (8%, $100 par, non cumulative) $   1,000,000 Paid in capital in excess of par value-Common Stock $   1,050,000 Paid in capital in excess of par value-Preferred Stock $         45,000 Retained earnings $   1,684,000 Less: Treasury Stock(10,000 shares) $       (98,000) Stockholders Equity $   3,961,000

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