Question
Question Content Area Prepare the Stockholders' Equity Section Wildcat Drilling has the following accounts on its trial balance. Debit Credit Retained earnings 1,500,000 Cash 125,000
Question Content Area
Prepare the Stockholders' Equity Section
Wildcat Drilling has the following accounts on its trial balance.
Debit | Credit | ||||
Retained earnings | 1,500,000 | ||||
Cash | 125,000 | ||||
Additional Paid-in CapitalCommon | 10,000,000 | ||||
Additional Paid-in CapitalPreferred | 2,000,000 | ||||
Accounts payable | 75,000 | ||||
Accounts receivable | 150,000 | ||||
Common stock, $2 par | 800,000 | ||||
Preferred stock, $10 par | 600,000 | ||||
Inventory | 500,000 | ||||
Treasury stockcommon (40,000 shares) | 250,000 | ||||
Accumulated other comprehensive income | 51,200 |
Required:
Prepare the stockholders' equity portion of Wildcat's balance sheet.
Stockholders' equity: | ||
Accounts payableAccumulated other comprehensive incomeCashPreferred stock, $10 parRetained earnings | $ | |
Accounts receivableCashCommon stock, $2 parRetained earningsTreasury stock | ||
Additional paid-in capital: | ||
Accounts payableAccumulated other comprehensive incomeCashPreferred stockTreasury stock | $ | |
Accounts receivableAccumulated other comprehensive incomeCommon stockPreferred stock, $10 parRetained earnings | blank | |
Total additional paid-in capital | blank | fill in the blank 9 |
Total capital stock | $fill in the blank 10 | |
Accounts payableCommon stockPreferred stockRetained earningsTreasury stock | ||
Accounts payableAccumulated other comprehensive incomeCommon stock, $2 parPreferred stock, $10 parTreasury stock | ||
Accounts receivableAccumulated other comprehensive incomeCommon stock, $2 parRetained earningsTreasury stock | ||
Total stockholders' equity | $fill in the blank 17 |
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