Question & Answer: Stockholders' Equity Section…..

Stockholders’ Equity Section

1. Prepare the stockholders’ equity section of the balance sheet.

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Question & Answer: Stockholders' Equity Section…..
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After closing its books on December 31, Pro Parts’ stockholders’ equity accounts had the following balances:

Common stock subscriptions receivable $5,140
Common stock, $5 par, 11,900 shares 59,500
Preferred stock, $10 par, 4%, 4,080 shares 40,800
Common stock subscribed, $5 par, 5,200 shares 26,000
Paid-in capital in excess of par-common stock 4,270
Retained earnings 37,380

Expert Answer


Stockolder’s Equity
Paid up common stock
Common stock , $5 par 59500
(fully paid , 11,500 shares)
Common stock, $5 par 26000
(Subscribed , 5,200 shares)
Less: Subscription due -5140 20860
Paid-in-capital in excess, common stock 4270
Total paid up common stock 84630
4% Preferred stock, $10 par 40800
(4,080 shares paid up)
Retained earnings 37380
Total Stockholders Equity 162810

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