Brief Exercise 11-8 Flint Corporation has these accounts at December 31: Common

Question

Brief Exercise 11-8

Flint Corporation has these accounts at December 31: Common Stock, $10 par, 6,400 shares issued, $64,000; Paid-in Capital in Excess of Par Value $19,900; Retained Earnings $44,900; and Treasury Stock, 590 shares, $12,980.

Prepare the stockholders’ equity section of the balance sheet.

Flint Corporation
Balance Sheet (Partial)
December 31

Open Show Work

Flint Corporation
Balance Sheet (Partial)
December 31

Additional Paid-in CapitalCapital StockCurrent AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesNet Income / (Loss)Property, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' EquityPaid-in CapitalTotal Paid-in CapitalTotal Paid-in Capital and Retained Earnings

Additional Paid-in CapitalCapital StockCurrent AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesNet Income / (Loss)Property, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' EquityPaid-in CapitalTotal Paid-in CapitalTotal Paid-in Capital and Retained Earnings

Additional Paid-in CapitalCapital StockCurrent AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesNet Income / (Loss)Property, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' EquityPaid-in CapitalTotal Paid-in CapitalTotal Paid-in Capital and Retained Earnings

$

Additional Paid-in CapitalCapital StockCurrent AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesNet Income / (Loss)Property, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' EquityPaid-in CapitalTotal Paid-in CapitalTotal Paid-in Capital and Retained Earnings

    Additional Paid-in Capital    Capital Stock    Current Assets    Current Liabilities    Intangible Assets    Long-term Investments    Long-term Liabilities    Net Income / (Loss)    Property, Plant and Equipment    Stockholders' Equity    Total Assets    Total Current Assets    Total Current Liabilities    Total Intangible Assets    Total Liabilities    Total Liabilities and Stockholders' Equity    Total Long-term Investments    Total Long-term Liabilities    Total Property, Plant and Equipment    Total Stockholders' Equity    Paid-in Capital    Total Paid-in Capital    Total Paid-in Capital and Retained Earnings    

    Additional Paid-in Capital    Capital Stock    Current Assets    Current Liabilities    Intangible Assets    Long-term Investments    Long-term Liabilities    Net Income / (Loss)    Property, Plant and Equipment    Stockholders' Equity    Total Assets    Total Current Assets    Total Current Liabilities    Total Intangible Assets    Total Liabilities    Total Liabilities and Stockholders' Equity    Total Long-term Investments    Total Long-term Liabilities    Total Property, Plant and Equipment    Total Stockholders' Equity    Paid-in Capital    Total Paid-in Capital    Total Paid-in Capital and Retained Earnings    

AddLess

:

    Additional Paid-in Capital    Capital Stock    Current Assets    Current Liabilities    Expenses    Intangible Assets    Long-term Investments    Long-term Liabilities    Net Income / (Loss)    Property, Plant and Equipment    Revenues    Stockholders' Equity    Total Assets    Total Current Assets    Total Current Liabilities    Total Expenses    Total Intangible Assets    Total Liabilities    Total Liabilities and Stockholders' Equity    Total Long-term Investments    Total Long-term Liabilities    Total Property, Plant and Equipment    Total Revenues    Total Stockholders' Equity    Paid-in Capital    Total Paid-in Capital    Total Paid-in Capital and Retained Earnings    

$

Explanation / Answer

Ans)

Flint corporation Balance sheet

Stockholders’ equity

Paid-in Capital

Capital Stock

Common Stock 64,000

Additional Paid-in Stock

Paid-in Capital in Excess of Par—Common Stock 19,900 Total paid in Capital  = 64,000 + 19,900 = 83,900

Retained Earnings 44,900 Total paid in Capital and Retained Earnings 128,800 LessTreasury Stock (12,980)

Total Stockholders’ equity 115820

Related Questions

Navigate

• Browse (All)
• Browse B
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.