*Exercise 11-9 Your answer is partially correct. Try again. The following stockh

Question

*Exercise 11-9 Your answer is partially correct. Try again. The following stockholders' equity accounts, arranged alphabetically, are in the ledger of Pronghorn Corp at December 31, 2017. Common Stock ($4 stated value) Paid-in Capital in Excess of Par Value-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock 1,470,000 Preferred Stock (796, $100 par, noncumulative) Retained Earnings Treasury Stock (16,800 common shares) $2,240,000 63,000 840,000 1,867,600 100,800 Prepare the stockholders' equity section of the balance sheet at December 31, 2017. (Enter account name only and do not provide descriptive information.)

Explanation / Answer

PRONGHON CORP Partial Balance Sheet December 31, 2017 $ $ Stockholders' equity Paid in capital Capital Stock Common Stock 2240000 Preferred stock 840000 Total capital stock 3080000 Additional paid-in capital Paid-in capital in excess of par value-preferred stock 63000 Paid-in capital in excess of stated value-Common stock 1470000 1533000 Total paid-in capital 4613000 Retained earnings 1867600 Total paid-in capital & Retained earnings 6480600 Less: Treasury stock -100800 Total stockholders' equity 6379800

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