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Pharoah Corporation's post-closing trial balance at December 31, 2020, is shown as follows. Cr. $ 514,600 168,000 PHAROAH CORPORATION POST-CLOSING TRIAL BALANCE DECEMBER 31, 2020
Pharoah Corporation's post-closing trial balance at December 31, 2020, is shown as follows. Cr. $ 514,600 168,000 PHAROAH CORPORATION POST-CLOSING TRIAL BALANCE DECEMBER 31, 2020 Dr. Accounts payable Accounts receivable $ 470,000 Accumulated depreciation-buildings Additional paid-in capital in excess of par-common From treasury stock Allowance for doubtful accounts Bonds payable Buildings 1,537,000 Cash 199,000 Common stock ($1 par) Dividends payable (preferred stock-cash) Inventory 550,000 Land 393,000 Preferred stock ($50 par) Prepaid expenses 41,000 1,230,000 164,000 28,000 286,000 196,000 4,400 450,000 393,000 450,000 41,000 Land Preferred stock ($50 par) Prepaid expenses Retained earnings Treasury stock (common at cost) Totals 328,000 179,000 $3,369,000 $3,369,000 At December 31, 2020, Pharoah had the following number of common and preferred shares. Common Preferred 54,000 Authorized Issued Outstanding 588,000 196,000 181,000 9,000 9,000 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 Pharoah's balance sheet at December 31, 2020. (Enter account name only and do not provide descriptive information.) PHAROAH CORPORATION Stockholders' Equity Stockholders' Equity $
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