I’m having a bit of trouble with this assignment, I’ve been doing


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I’m having a bit of trouble with this assignment, I’ve been doing homework all day and my brain is not in the right place. Please help The ledger of Wade Corporation at December 31, 2014, after the books have been closed, contains the following stockholders’ equity accounts. Preferred Stock (10,000 shares issued) $1,000,000 Common Stock (300,000 shares issued) 1,500,000 Paid-in Capital in Excess of Par Value—Preferred Stock 200,000 Paid-in Capital in Excess of Stated Value—Common Stock 1,600,000 Retained Earnings 2,860,000 A review of the accounting records reveals this information: 1. Preferred stock is 8%, $100 par value, noncumulative. Since January 1, 2013, 10,000 shares have been outstanding; 20,000 shares are authorized. 2. Common stock is no-par with a stated value of $5 per share; 600,000 shares are authorized 3. The January 1, 2014, balance in Retained Earnings was $2,380,000. 4. On October 1, 60,000 shares of common stock were sold for cash at $9 per share. 5. A cash dividend of $400,000 was declared and properly allocated to preferred and common stock on November 1. No dividends were paid to preferred stockholders in 2013. 6. Net income for the year was $880,000. 7. On December 31, 2014, the directors authorized disclosure of a $160,000 restriction of retained earnings for plant expansion. (Use Note A.) Warning Don’t show me this message again for the assignment Ok Cancel Your answer is incorrect.  Try again. Reproduce the retained earnings account for the year. Retained Earnings Jan. 1Dec. 31 Jan. 1Dec. 31 Jan. 1Dec. 31 Jan. 1Dec. 31 Jan. 1Dec. 31 Jan. 1Dec. 31 Warning Don’t show me this message again for the assignment Ok Cancel Show List of Accounts Link to Text Link to Text Link to Video Your answer is partially correct. Try again. Prepare the stockholders’ equity section of the balance sheet at December 31. WADE CORPORATION Partial Balance Sheet December 31, 2014 Current AssetsCurrent LiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesNet Income / (Loss)Property, Plant and EquipmentRevenuesStockholders’ EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders’ EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal RevenuesAdditional Paid-in CapitalPaid-in CapitalCapital StockTotal Capital StockTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Stockholders’ EquityTotal Additional Paid-in Capitalres_EAT_1350493013788_0_850832952794026_041 Current AssetsCurrent LiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesNet Income / (Loss)Property, Plant and EquipmentRevenuesStockholders’ EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders’ EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal RevenuesAdditional Paid-in CapitalPaid-in CapitalCapital StockTotal Capital StockTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Stockholders’ EquityTotal Additional Paid-in Capitalres_EAT_1350493013788_0_850832952794026_084 Current AssetsCurrent LiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesNet Income / (Loss)Property, Plant and EquipmentRevenuesStockholders’ EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders’ EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal RevenuesAdditional Paid-in CapitalPaid-in CapitalCapital StockTotal Capital StockTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Stockholders’ EquityTotal Additional Paid-in Ca…

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