Brief Exercise 11-8 Your answer is partially correct. Try again Pina Colada Corp

Question

Brief Exercise 11-8 Your answer is partially correct. Try again Pina Colada Corp. has these accounts at December 31: Common Stock, $10 par, 5,600 shares issued, $56,000; Paid-in Capital in Excess of Par Value $19,100; Retained Earnings $44,100; and Treasury Stock, 510 shares, $11,220. Prepare the stockholders' equity section of the balance sheet. Pina Colada Corp Balance Sheet (Partial) December 31 Stockholders' Equity Paid-in Capital Capital Stock Common Stock, $10 par, 5,600 shares issued 56000 Additional Paid-in Capital Paid-in Capital in Excess of Par Value-Common Stock 19100 Total Paid-in Capital and Retained EarningsV

Explanation / Answer

Stockholders’ equity Paid-in capital Capital stock Common stock, $10 par value, 5,600 shares issued and 5,090 shares outstanding. 56000 Additional paid-in capital Paid-in capital in excess of par value— common stock. 19100 Total paid-in capital 75100 Retained earnings 44100 Total paid-in capital and retained earnings 119200 Less: Treasury stock (510 shares) -11220 Total stockholders’ equity 107980

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