Question

6. The following a Following accounts and balances are from the accounting records of Bronx CC Inc, as of December 31, 2001 Fifty thousand shares of common stock are authorized, 30,000 shares are issued and 5,000 shares have been reacquired. Thirty thousand shares of preferred stock are authorized, 5,000 shares are issued and outstanding. Paid-In Capital in Excess of Par - Common 250,000 400,000 Bonds Payable Preferred Stock, $100 par, 9% cumulative 500,000 100,000 Cash 50,000 Common Stock Dividends Distributable 350,000 Paid-In Capital in Excess of Par - Preferred 4,350,000 Retained Earnings 1,500,000 Common Stock, S50 par 197,000 Treasury Stock

Answer 1

Bronx CC Inc. Balance Sheet (Partial) as on Deccember 31, 2021 Stockholders' equity Paid-in Capital Preferred Stock, $100 Par, 9% Commulative, 5000 shares are issued and outstanding Common Stock, $50 Par value, 30,000 Shares issued and outstanding Total Capital Stock 5,00,000 15,00,000 20,00,000 3,50,000 2,50,000 Additional paid-in capital In excess of Par-Preferred stock In excess of Par-Common stock TotalAdditional paid-in capital Total Paid In Capital Retained earnings Total Paid In Capital & Retain Earnings Less: Treasury Stock Total Stockholders Equity 6,00,000 26,00,000 43,00,000 69,00,000 1,97,000 67,03,000 Note: retain earnings = 4350000-50000=4300000