Solution-Prepare stockholders equity section of carla

Prepare stockholders equity section of carla balance sheet

Reference no: EM131706314

Question - Carla Corporation's post-closing trial balance at December 31, 2017, is shown as follows.

CARLA CORPORATION POST-CLOSING TRIAL BALANCE DECEMBER 31, 2017
	Dr.	Cr.
Accounts payable		$ 416,000
Accounts receivable	$ 497,000
Accumulated depreciation-buildings		178,000
Additional paid-in capital in excess
of par-common		1,267,000
From treasury stock		173,000
Allowance for doubtful accounts		30,000
Bonds payable		274,000
Buildings	1,404,000
Cash	181,000
Common stock ($1 par)		188,000
Dividends payable (preferred stock-cash)		4,000
Inventory	612,000
Land	429,000
Preferred stock ($50 par)		500,000
Prepaid expenses	40,000
Retained earnings		315,000
Treasury stock (common at cost)	182,000
Totals	$3,345,000	$3,345,000

At December 31, 2017, Carla had the following number of common and preferred shares.

	Common	Preferred
Authorized	564,000	60,000
Issued	188,000	10,000
Outstanding	179,000	10,000

The dividends on preferred stock are $4 cumulative. In addition, the preferred stock has a preference in liquidation of $50 per share.

Prepare the stockholders' equity section of Carla's balance sheet at December 31, 2017.

Reference no: EM131706314

Questions Cloud

What were the major provisions of the wagner act : What were the major provisions of the Wagner Act? What were the effects of this act? What factors led to the passage of the Taft-Hartley Act?

Which employers are covered by the nlra : Which employers are covered by the NLRA? Which employers are exempt from NLRA coverage? Which employees are excluded from NLRA coverage?

Provide a comprehensive knowledge of research method : Write 4 - 5 page summaries per chapter covering all fourteen (14) chapters and expanding them to include additional details from the other scholarly sources.

Discuss the state and federal government vocational programs : Couldn't all students benefit from individually tailored programs. How do we pay for it all. What is fair

Prepare stockholders equity section of carla balance sheet : Carla Corporation's post-closing trial balance at December 31, 2017, Prepare the stockholders' equity section of Carla's balance sheet at December 31, 2017

Discuss the collective bargaining relationship : If you were arguing for the plaintiff hospitals, how would you contend that this West Virginia law might interfere with the collective bargaining relationship?

Difference between direct and indirect inquiries : Identify the difference between direct and indirect inquiries - How might a direct inquiry differ from an indirect inquiry in terms of tone, style

What key event happened to aung san suu kyi and her family : What key event happened to Aung San Suu Kyi and her family in 1991? What key event happened in 1947, as depicted early in the film?

Does spring valley farms fall under jurisdiction of the nlrb : Does Spring Valley Farms fall under the jurisdiction of the NLRB? Is Jones as manager excluded from the Board's jurisdiction?

User Account

All Pages

Prepare stockholders equity section of carla balance sheet

Reference no: EM131706314

Reference no: EM131706314

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT