Question
Exercise 15-17 Riverbed Corporations post-closing trial balance at December 31, 2017, is shown as follows. RIVERBED CORPORATION POST-CLOSING TRIAL BALANCE DECEMBER 31, 2017 Dr. Cr.
Exercise 15-17 Riverbed Corporations post-closing trial balance at December 31, 2017, is shown as follows. RIVERBED CORPORATION POST-CLOSING TRIAL BALANCE DECEMBER 31, 2017 Dr. Cr. Accounts payable $ 345,900 Accounts receivable $ 488,000 Accumulated depreciationbuildings 183,000 Additional paid-in capital in excess of parcommon 1,380,000 From treasury stock 169,000 Allowance for doubtful accounts 33,000 Bonds payable 273,000 Buildings 1,530,000 Cash 172,000 Common stock ($1 par) 180,000 Dividends payable (preferred stockcash) 4,100 Inventory 578,000 Land 417,000 Preferred stock ($50 par) 550,000 Prepaid expenses 42,000 Retained earnings 282,000 Treasury stock (common at cost) 173,000 Totals $3,400,000 $3,400,000 At December 31, 2017, Riverbed had the following number of common and preferred shares. Common Preferred Authorized 540,000 66,000 Issued 180,000 11,000 Outstanding 176,000 11,000 The dividends on preferred stock are $4 cumulative. In addition, the preferred stock has a preference in liquidation of $50 per share. Prepare the stockholders equity section of Riverbeds balance sheet at December 31, 2017. (Enter account name only and do not provide descriptive information.)
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