Exercise – as the accountant of the company, your assistant provided you with the following account:...
Exercise – as the accountant of the company, your assistant provided you with the following account:
Preferred stock, SR 50 par value, 10% cumulative, 20,000 shares authorized, 10,000 shares issued and outstanding SR 500, 000
Common stock, SR20 par value, 50,000 shares authorized, 40,000 shared issued, and 37000 shares outstanding, SR 800,000
Additional paid in capital SR 200,000
Retained Earnings SR 150,000
Treasury stock, common (3000 share, at cost) SR 90,000
Required:
Prepare the stockholders’ equity section of the company’s
balance sheet as of the end of year.
Homework Answers
| Balance Sheet (
Partial ) End of Year Stockholders' Equity |
|
| SR | |
| Paid-in Capital | |
| Preferred Stock, SR 50 par value, 10 % cumulative, 20,000 shares authorized, 10,000 shares issued and outstanding | 500,000 |
| Common Stock, SR 20 par value, 50,000 shares authorized, 40,000 shares issued and 37,000 shares outstanding | 800,000 |
| Additional Paid-in Capital | 200,000 |
| Total Paid-in Capital | 1,500,000 |
| Retained Earnings | 150,000 |
| Treasury Stock: Common ( 3,000 shares, at cost ) | (90,000) |
| Total Stockholders' Equity | $ 1,560,000 |
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