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Prepare the stockholder equity section of the balance sheet

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Question - Thomson Corporation Stockholder's Equity December 31, 2013

Common stock (40,000 authorized, 25,000 issued and outstanding with par value of $10 per share.) - $250000

Excess paid in capital on common stock - $125000

Retained Earnings - $500000

Total stockholder's equity - $875000

During the current year, Thomson had the following stock transactions:

  • The company authorizes the sale of 10% preferred stock, 50,000 shares at par value of $50.
  • Sold 20,000 shares of preferred stock at $75 per share.
  • Purchased 5,000 shares of common stock at $20 per share for cash.
  • Declared and distributed a 2% stock dividend to common stockholders when market price was $25 per share.
  • Declared and paid $90,000 in cash dividends to common and preferred stockholders.
  • Sold 2,000 shares of treasury stock at $16 per share.
  • Net loss is $134,000.

Required: Prepare the stockholder's equity section of the balance sheet for year-end 2013.

Reference no: EM132009598

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