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October 25, 2014

Homework Help: Accounting

Posted by kate on Friday, December 9, 2011 at 9:07pm.

When Resisto Systems, Inc., was formed, the company was authorized to issue 5,000 shares of $100 par value, 8 percent cumulative preferred stock, and 100,000 shares of $2 stated value common stock.




Half of the preferred stock was issued at a price of $103 per share, and 70,000 shares of the common stock were sold for $13 per share. At the end of the current year, Resisto has retained earnings of $382,000.




a.


Prepare the stockholders’ equity section of the company’s balance sheet at the end of the current year. (Omit the "$" sign in your response.)





Stockholders' Equity





(Click to select)Retained earningsCashCapital stockCumulative preferred stockTreasury stock

$



(Click to select)Common stockCashRetained earningsCapital stockTreasury stock





Additional paid-in capital:





(Click to select)Retained earningsCapital stockTreasury stockCashPreferred stock





(Click to select)Capital stockRetained earningsCommon stockTreasury stockCash








--------------------------------------------------------------------------------




Total paid-in capital

$



(Click to select)DividendsTreasury stockRetained earningsCapital stockCumulative preferred stock








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Total stockholders' equity

$






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