Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Exercise 13-11 The following stockholders' equity accounts, arranged alphabetically, are in the ledger of Ayayai Corporation at December 31, 2020. Common Stock ($4 stated value)

image text in transcribed
image text in transcribed
image text in transcribed
Exercise 13-11 The following stockholders' equity accounts, arranged alphabetically, are in the ledger of Ayayai Corporation at December 31, 2020. Common Stock ($4 stated value) $1,380,000 Paid-in Capital in Excess of Par-Preferred Stock 279,000 Paid-in Capital in Excess of Stated Value-Common Stock 929,000 Preferred Stock (8%, $100 par) 510,000 Retained Earnings 1,060,000 Treasury Stock (10,000 common shares) 120,000 Prepare the stockholders' equity section of the balance sheet at December 31, 2020. (Enter the account name only and do not pro question. December 31, 2020 Stockholders' Equity Paid-in Capital Capital Stock Common Stock 1,380,000 Preferred Stock 510,000 Total Capital Stock 1,890,000 Additional Paid-in Capital Paid-in Capital in Excess of Stated Value-Commor 929,000 Paldin Capital in Excess of Par-Preferred Stock 279,000 Total Additional Paid-in Capital 1,208,000 Total Paid-in Capital 3,098,000 Retained Earnings 1,060,000 Paid-in Capital in Excess of Stated Value-Commor 929,000 Paid-in Capital in Excess of Par-Preferred Stock 279,000 Total Additional Paid-in Capital 1,208,000 Total Paid-in Capital 3,098,000 Retained Earnings 1,060,000 Total Paid-in Capital and Retained Earnings 4,158,000 Less 120,000 Treasury Stock Total Stockholders' Equity 4,038,000 Click if you would like to Show Work for this question: Open Show Work

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Word Search Puzzle Book For Auditing Clerk

Authors: Lx Antu

1st Edition

B09KN7YDD6, 979-8757688466

More Books

Students also viewed these Accounting questions

Question

1. Jacob is a natural leader.

Answered: 1 week ago