Carla Corporation’s post-closing trial balance
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 $ 150,900 Accounts receivable $ 453,000 Accumulated depreciation—buildings 195,000 Additional paid-in capital in excess
of par—common 1,319,000 From treasury stock 163,000 Allowance for doubtful accounts 27,000 Bonds payable 284,000 Buildings 1,345,000 Cash 208,000 Common stock ($1 par) 191,000 Dividends payable (preferred stock—cash) 4,100 Inventory 536,000 Land 413,000 Preferred stock ($50 par) 550,000 Prepaid expenses 39,000 Retained earnings 289,000 Treasury stock (common at cost) 179,000 Totals $3,173,000 $3,173,000 At December 31, 2017, Carla had the following number of common and preferred shares.
Common
Authorized
Issued
Outstanding 573,000
191,000
175,000 Preferred
66,000
11,000
11,000 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. (Enter
account name only and do not provide descriptive information.)
CARLA CORPORATION
Stockholders’ Equity $ : $
Answers
Status NEW
Posted 09 May 2017 08:05 AM
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