Brief Exercise 11-8 Sheffield Corp. has these accounts at December 31: Common St

Question

Brief Exercise 11-8

Sheffield Corp. has these accounts at December 31: Common Stock, $12 par, 6,000 shares issued, $72,000; Paid-in Capital in Excess of Par Value $19,500; Retained Earnings $44,500; and Treasury Stock, 550 shares, $12,100.

Prepare the stockholders’ equity section of the balance sheet.

Sheffield Corp.
Balance Sheet (Partial)
December 31

Sheffield Corp.
Balance Sheet (Partial)
December 31

select an opening section name

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

select an opening subsection name

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

select a name of the subordinate part of this subsection

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

enter a balance sheet item

$enter a dollar amount

select a name of the subordinate part of this subsection

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

enter a balance sheet item

enter a dollar amount

select a closing subsection name

    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    

enter a subtotal of the two previous amounts

enter a balance sheet item

enter a dollar amount

select a summarizing line for this part of the statement

    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    

enter a subtotal amount for this part of the statement

select between addition and deduction

AddLess

: enter a balance sheet item

enter a dollar amount

select a closing section name

    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    

$enter a total amount for this section

Explanation / Answer

Sheffield Corp Balance sheet (Partial) 31-Dec Stockholders' equity Paid-in capital Common stock $12 par value, Issued 6,000 shares $ 72,000 Additional paid in capital - common stock $ 19,500 Total paid in capital $    91,500 Retained earnings $    44,500 Total paid in capital and retained earnings $ 136,000 Less: Treasury stock - 550 shares $ (12,100) Total stockholders' equity $ 123,900

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