Martinez Corp, has issued 94,000 shares of $4 par value common stock. It was authorized 500,000 shares. The paid-in capital in excess of par value on the common stock is $259,000. The corporation has reacquired 6,200 shares at a cost of $48,000 and is currently holding those shares. It also had accumulated other comprehensive income of $62,500. The corporation also has 1,400 shares issued and outstanding of 9%, $101 par value preferred stock. It was authorized 9,100 shares. The paid-in capital in excess of par value on the preferred stock is $22,700. Retained earnings is $379,000. Prepare the stockholders' equity section of the balance sheet. (Enter account name only and do not provide descriptive information.) Stockholders' Equity Paid-in Capital Capital Stock Preferred Stock Common Stock Total Capital Stock Additional Paid-in Capital Paid-in Capital in Excess of Par Value-Common Stock Paid-in Capital in Excess of Par Value-Preferred Stock Total Additional Paid-in Capital Total Paid-in Capital Retained Earnings Total Paid-in Capital and Retained Earnings v Accumulated Other Comprehensive Income Less : Treasury Stock Total Stockholders' Equity MARTINEZ CORP. Balance Sheet (Partial) 193800 375200 271800 30100

Martinez Corp, has issued 94,000 shares of $4 par value common stock. It was authorized 500,000 shares. The paid-in capital in excess of par value on the common stock is $259,000. The corporation has reacquired 6,200 shares at a cost of $48,000 and is currently holding those shares. It also had accumulated other comprehensive income of $62,500. The corporation also has 1,400 shares issued and outstanding of 9%, $101 par value preferred stock. It was authorized 9,100 shares. The paid-in capital in excess of par value on the preferred stock is $22,700. Retained earnings is $379,000. Prepare the stockholders' equity section of the balance sheet. (Enter account name only and do not provide descriptive information.) Stockholders' Equity Paid-in Capital Capital Stock Preferred Stock Common Stock Total Capital Stock Additional Paid-in Capital Paid-in Capital in Excess of Par Value-Common Stock Paid-in Capital in Excess of Par Value-Preferred Stock Total Additional Paid-in Capital Total Paid-in Capital Retained Earnings Total Paid-in Capital and Retained Earnings v Accumulated Other Comprehensive Income Less : Treasury Stock Total Stockholders' Equity MARTINEZ CORP. Balance Sheet (Partial) 193800 375200 271800 30100

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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