The following stockholders’ equity accounts, arranged alphabetically,
are in the ledger of Borkowski Corporation at December 31, 2012.
Prepare the stockholders’ equity section of the balance sheet at December 31, 2012.
| Common Stock ($6 stated value) | $2,068,200 | |
| Paid-in Capital in Excess of Par—Preferred Stock | 276,400 | |
| Paid-in Capital in Excess of Stated Value—Common Stock | 928,100 | |
| Preferred Stock (8%, $101 par, noncumulative) | 525,200 | |
| Retained Earnings | 1,053,200 | |
| Treasury Stock (10,400 common shares) | 124,800 |
Prepare the stockholders’ equity section of the balance sheet at December 31, 2012.
BORKOWSKI CORPORATION
Balance Sheet (Partial) December 31, 2012 | ||||||
Stockholders’ equity
| ||||||
Paid-in capital
| ||||||
Capital stock
| ||||||
8% Preferred stock, $101 par
value, noncumulative, 5,200 shares issued |
$525,200
| |||||
Common stock, no par, $6
stated value, 344,700 shares issued, and 334,300 shares outstanding |
2,068,200
| |||||
Total capital stock
|
2,593,400
| |||||
Additional paid-in capital
| ||||||
Paid-in Capital In Excess of Par- Preferred Stock
|
$276,400
| |||||
Paid-in Capital In Excess of Stated Value-Common Stock
|
928,100
| |||||
Total additional paid-in capital
|
1,204,500
| |||||
Total paid-in capital
|
3,797,900
| |||||
Retained earnings
|
1,053,200
| |||||
Total paid-in capital and retained earnings
|
4,851,100
| |||||
Less: Treasury stock (10,400 common shares)
|
(124,800
|
)
| ||||
Total stockholders’ equity
|
$4,726,300
| |||||