Below is the partial trial balance dated December 31, 2016, for James River Corp

Question

Below is the partial trial balance dated December 31, 2016, for James River Corporation

Notes Payable: 35000

Bonds Payable: 150,000

Retained Earnings: 145600

Common Stock: 100,000

Preferred Stock: 50000

Additional Paid-in Capital -common: 175000

Additional paid-in capital-preferred: 100000

Premium on Bonds Payable: 15000

Accumulated other Comprehensive Income: 55600

Cash: 58900

Equipment: 189000

Accumulated Depreciation: 135000

Required:

Prepare the shareholder's equity portion of the balance sheet dated December 31 2016.

Explanation / Answer

Balance sheet Dated 31-12-2016
Shareholder Equity
Common stock 100000
Preferred stock 50000
Additional capital
Common stock 175000
Preferred stock 100000
Reserve & surplus
Retained Earnings 145600
Other comrehensive Inc 55600
Total 626200

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