Question

Morrow Enterprises Inc. manufactures bathroom fixtures. The stockholders’ equity accounts of Morrow Enterprises Inc., with balances on January 1, 20Y5, are as follows:

Common Stock, $20 stated value (500,000 shares authorized, 375,000 shares issued)	$ 7,500,000
Paid-In Capital in Excess of Stated Value—Common Stock	825,000
Retained Earnings	33,600,000
Treasury Stock (25,000 shares, at a cost of $18 per share)	450,000

The following selected transactions occurred during the year:

Jan.	22	Paid cash dividends of $0.08 per share on the common stock. The dividend had been properly recorded when declared on December 1 of the preceding fiscal year for $28,000.
Apr.	10	Issued 75,000 shares of common stock for $24 per share.
Jun.	6	Sold all of the treasury stock for $26 per share.
Jul.	5	Declared a 4% stock dividend on common stock, to be capitalized at the market price of the stock, which is $25 per share.
Aug.	15	Issued the certificates for the dividend declared on July 5.
Nov.	23	Purchased 30,000 shares of treasury stock for $19 per share.
Dec.	28	Declared a $0.10-per-share dividend on common stock.
	31	Closed the two dividends accounts to Retained Earnings.

Stockholders' Equity D. Prepare the Stockholders' Equity section of the December 31, 2075 balance sheet. Refer to the list of Amount Descriptions provided for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtractive or negative numbers use a minus sign. Stockholders' Equity 1 Paid-in capital:

I only need help with D, must fit into chart provided above.

Answer 1

* Given that stated value = $20 - shares a 5,00,000 Authorized shaves issued = 345,000 Paid -in capital in excess of stated value - 895,000 common stock Retained Earrings - 33, 600,000 Treasury stock (25,000 shares, at a cost of $10 pershare) - 450.000 common stock = - 4 68,000 × $20 1$ 9,360,000

Answer: ps) prepare the stockholder's Equity section as follows. Amount Amount of $ 9,360,000 $12,15,000 $ 200,000 stock holder's Equity paid- in capital Common stock (468,000 x $ 20) Excess of issue price over states value From sake of treasury stock Total paid - in capital Retained Earnings subtotal Lass: treasury stock (30,000 shares) Total stock holder's equity $ 10,775,000 $34,231,200 $ 45006, 200 $ 579,000 $ 44,436,200