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What do I put on the equity section of the balance sheet and how would I get that number? This is a comprehensive problem all

What do I put on the equity section of the balance sheet and how would I get that number?

image text in transcribed This is a comprehensive problem all contained on this spreadsheet tab. The stockholders equity section of the balance sheet of Frederick Mining Company is as follows: Frederick Mining Company Equity Section of Balance Sheet as of January 1, 2016 Common stock, $10 par value, 200,000 shares authorized 120,000 shares issued Paid-in capital in excess of par value Retained earnings Total equity 1,200,000 3,711,250 4,651,255 9,562,505 Create a journal entry (if needed) for each of the following items. Prepare an updated equity section of the balance sheet as of December 31, 2016. Scroll down past the journal e 1/28/2016 Frederick Mining enters into a loan-modification agreement with the bank, agreeing to appropriate $500,000 of r 2/15/2016 Frederick Mining board of directors declares a $1.50-per-share dividend payable on 3/31/2016 to shareholders of 3/31/2016 Cash dividend declared on 2/15/2016 is paid. 7/22/2016 Frederick Mining board of directors declares a 10% stock dividend to be paid 8/15/2016 to shareholders of record 8/15/2016 Stock dividend declared on 7/22/16 is paid. 9/18/2016 Frederick Mining buys back 5,000 shares of company stock on the open market for $52 per share. The purchased 12/31/2016 Frederick Mining had the following income and expense account balance as of 12/31/2016. Close out income. Debit Sales revenue Cost of goods sold Administrative salary expense Office expense Depreciation expense Transportation expense Interest expense 4,752,600 436,500 118,560 12,000 18,400 82,800 12/31/2016 Close out dividends. Journal Entries Debit Frederick Mining Company Equity Section of Balance Sheet as of December 31, 2016 mpany is as follows: 016. Scroll down past the journal entry section to see the heading for this. greeing to appropriate $500,000 of retained earnings to loan repayment. ble on 3/31/2016 to shareholders of record as of 3/15/2016. Frederick uses a dividends account to record dividends declared. 8/15/2016 to shareholders of record as of 8/1/2016. The market value of the stock is $49 immediately prior to the declaration. et for $52 per share. The purchased shares are not retired but are held in treasury. of 12/31/2016. Close out income. Credit 6,890,000 Credit idends declared. o the declaration

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