The following stockholders’ equity accounts, arranged alphabetically, are in the
ID: 2574686 • Letter: T
Question
The following stockholders’ equity accounts, arranged alphabetically, are in the ledger of Marigold Corp. at December 31, 2017. Common Stock ($2 stated value) $1,840,000 Paid-in Capital in Excess of Par Value—Preferred Stock 51,750 Paid-in Capital in Excess of Stated Value—Common Stock 1,207,500 Preferred Stock (6%, $100 par, noncumulative) 690,000 Retained Earnings 1,534,100 Treasury Stock (13,800 common shares) 82,800 Prepare the stockholders’ equity section of the balance sheet at December 31, 2017.
Explanation / Answer
Capital stock
Preferred stock (6%, $100 par, noncumulative)
$690,000
Common stock ($2 stated value)
$1,840,000
Total capital stock
$2,530,000
Additional paid-in capital
Paid-in Capital in Excess of Par Value-Preferred Stock
$51,750
Paid-in Capital in Excess of Stated Value-Common Stock
$1,207,500
Total paid-in capital
$1,259,250
Retained earnings
1534100
Total paid-in capital and retained earnings
$2,793,350
Less: Treasury stock-common (13,800 shares)
($82,800)
Total stockholders' equity
$2,710,550
Capital stock
Preferred stock (6%, $100 par, noncumulative)
$690,000
Common stock ($2 stated value)
$1,840,000
Total capital stock
$2,530,000
Additional paid-in capital
Paid-in Capital in Excess of Par Value-Preferred Stock
$51,750
Paid-in Capital in Excess of Stated Value-Common Stock
$1,207,500
Total paid-in capital
$1,259,250
Retained earnings
1534100
Total paid-in capital and retained earnings
$2,793,350
Less: Treasury stock-common (13,800 shares)
($82,800)
Total stockholders' equity
$2,710,550
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