Accounts payableAccounts receivableAccumulated depreciation-buildingsAdditional paid-in capital in excessof par-commonFrom treasury stockAllowance for doubtful accountsBonds payableBuildingsCashCommon stock ($1 par)Dividends payable (preferred stock-cash)InventoryLandSHEFFIELD CORPORATIONPost-Closing Trial BalanceDecember 31, 2025Preferred stock ($50 par)Prepaid expensesRetained earningsTreasury stock (common at cost)TotalsAuthorizedIssuedOutstandingCommon585,000195,000Dr.164,000$513,0001,489,000203,000579,000392,00042,000181,000$3,399,000Preferred66,00011,000Cr.$405,100At December 31, 2025, Sheffield had the following number of common and preferred shares.11,000195,0001,310,000150,00027,000292,000195,0003,900550,000271,000$3,399,000The dividends on preferred stock are $4 cumulative. In addition, the preferred stock has a preference inliquidation of $50 per share.Prepare the stockholders' equity section of Sheffield's balance sheet at December 31, 2025. (Enter accountname only and do not provide descriptive information.)SURRORT

Shareholders' equity, also known as shareholders' equity or stockholders' equity, refers to the…

Answered: Prepare the stockholders' equity…

Business

Accounting

Prepare the stockholders' equity section of Sheffield's balance sheet at December 31, 2025.

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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Account listing Assistance Accumulated Depreciation Cash Cash Dividends Common Stock Common Stock Dividends Distributable Dividends Payable Income Summary Income Tax Expense Income Taxes Payable Interest Expense Interest Payable No Entry Operating Expenses Paid-in Capital in Excess of Par-Common Stock Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Preferred Stock Retained Earnings Sales Revenue Stock Dividends Treasurv Stock
Assets Current assets: Cash Marketable securities Accounts receivable (net) Inventory Total current assets Investments Plant and equipment Less: Accumulated depreciation Net plant and equipment Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Notes payable Accrued taxes Total current liabilities Long-term liabilities: Bonds payable Total liabilities Stockholders' equity Preferred stock, $ 50 par value Common stock, $ 1 par value Capital paid in excess of par Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $ 611,000 272,000 $ 52,500 22,500 178,000 290,000 $ 543,000 66,200 339,000 $948,200 $ 95,100 78,700 12,000 $ 185,800 159,400 $ 345,200 $ 100,000 80,000 190,000 233,000 $ 603,000 $948,200
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