Contributed Capital Adams Company's records provide the following information on December 31, 2019: Account Title Amount Additional Paid-in Capital on Preferred Stock $ 17,000 Common Stock 75,000 Premium on Bonds Payable 4,000 Preferred Stock 80,000 Bonds Payable 100,000 Preferred Stock Subscribed 20,000 Retained Earnings 121,000 Additional Paid-in Capital on Common Stock 84,000 Additional information: Common stock has a $5 par value, 50,000 shares are authorized, 15,000 shares have been issued and are outstanding. Preferred stock has a $100 par value, 3,000 shares are authorized, 800 shares have been issued and are outstanding. Two hundred shares have been subscribed at $120 per share. The stock pays an 8% dividend, is cumulative, and is callable at $130 per share. Bonds payable mature on January 1, 2023. They carry a 12% annual interest rate, payable semiannually. Required: Prepare the Contributed Capital section of the December 31, 2019, balance sheet for Adams. Contributed Capital $ Total contributed capital $
Contributed Capital Adams Company's records provide the following information on December 31, 2019: Account Title Amount Additional Paid-in Capital on Preferred Stock $ 17,000 Common Stock 75,000 Premium on Bonds Payable 4,000 Preferred Stock 80,000 Bonds Payable 100,000 Preferred Stock Subscribed 20,000 Retained Earnings 121,000 Additional Paid-in Capital on Common Stock 84,000 Additional information: Common stock has a $5 par value, 50,000 shares are authorized, 15,000 shares have been issued and are outstanding. Preferred stock has a $100 par value, 3,000 shares are authorized, 800 shares have been issued and are outstanding. Two hundred shares have been subscribed at $120 per share. The stock pays an 8% dividend, is cumulative, and is callable at $130 per share. Bonds payable mature on January 1, 2023. They carry a 12% annual interest rate, payable semiannually. Required: Prepare the Contributed Capital section of the December 31, 2019, balance sheet for Adams. Contributed Capital $ Total contributed capital $
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Contributed Capital
Adams Company's records provide the following information on December 31, 2019:
| Account Title | Amount |
| Additional Paid-in Capital on |
$ 17,000 |
| Common Stock | 75,000 |
| Premium on Bonds Payable | 4,000 |
| Preferred Stock | 80,000 |
| Bonds Payable | 100,000 |
| Preferred Stock Subscribed | 20,000 |
| 121,000 | |
| Additional Paid-in Capital on Common Stock | 84,000 |
Additional information:
- Common stock has a $5 par value, 50,000 shares are authorized, 15,000 shares have been issued and are outstanding.
- Preferred stock has a $100 par value, 3,000 shares are authorized, 800 shares have been issued and are outstanding. Two hundred shares have been subscribed at $120 per share. The stock pays an 8% dividend, is cumulative, and is callable at $130 per share.
- Bonds payable mature on January 1, 2023. They carry a 12% annual interest rate, payable semiannually.
Required:
Prepare the Contributed Capital section of the December 31, 2019, balance sheet for Adams.
| Contributed Capital | |||
| $ | |||
| Total contributed capital | $ |
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