Question
Contributed Capital Adams Company's records provide the following information on December 31, 2013: Account Title Amount Additional Paid-in Capital on Preferred Stock $ 17,000 Common
Contributed Capital
Adams Company's records provide the following information on December 31, 2013:
Account Title | Amount |
Additional Paid-in Capital on Preferred Stock | $ 17,000 |
Common Stock | $ 75,000 |
Premium Bonds on Payable | $ 4,000 |
Preferred Stock | $ 80,000 |
Bonds Payable | $ 100,000 |
Preferred Stock Subscribed | $ 20,000 |
Retained Earnings | $121,000 |
Additional Paid-in Capital on Common Stock | $ 84,000 |
Additional information:
1. Common stock has a $5 par value, 50,000 shares are authorized, 15,000 shares have been issued and are outstanding.
2. Preferred stock has a $100 par value, 3,000 shares are authorized, 800 shares have been issued and are outstanding. Two hundred shares have been subscribed at $120 per share. The stock pays an 8% dividend, is cumulative, and callable at $130 per share.
3. Bonds payable mature on January 1, 2017. They carry a 12% annual interest rate, payable semiannually.
Prepare the Contributed Capital section of the December 31, 2013, balance sheet for Adams.
Contributed Capital
1. | Preferred Stock, $100 par (8%, cumulative, callable at $130, 3000 shares authorized, 800 shares issued and outstanding) | $ ????? |
2. | Preferred Stock Subscribed (200 shares) | $ ????? |
3. | Common Stock, $5 par value (50,000 shares authorized, 15,000 shares issued and outstanding) | $ 75,000 |
4. | Additional Paid-in Capital on Preferred Stock | $ 17,000 |
| Additional Paid-in Capital on Common Stock | $ 84,000 |
Total Contributed Capital | $ ????? |
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