Question
I understand all the list of accounts but then when i go to match up the account name with the numbers provided, it is telling
I understand all the list of accounts but then when i go to match up the account name with the numbers provided, it is telling me i'm wrong. If you could give me some feedback on how to calculate them it would be greatly appreciated.
On December 31, 2016, Wildhorse Co. had1,375,000shares of $7par common stock issued and outstanding. At December 31, 2016, stockholders' equity had the amounts listed here.
Common Stock$9,625,000Additional Paid-in Capital1,910,000Retained Earnings1,295,000
Transactions during 2017 and other information related to stockholders' equity accounts were as follows.
1.On January 10, 2017, issued at $109per share117,000shares of $104par value,8% cumulative preferred stock.
2.On February 8, 2017, reacquired17,100shares of its common stock for $12per share.
3.On May 9, 2017, declared the yearly cash dividend on preferred stock, payable June 10, 2017, to stockholders of record on May 31, 2017.
4.On June 8, 2017, declared a cash dividend of $1.70per share on the common stock outstanding, payable on July 10, 2017, to stockholders of record on July 1, 2017.
5.Net income for the year was $3,587,000.
Prepare the stockholders' equity section of Wildhorse balance sheet at December 31, 2017.
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