Stowe Company\'s December 31, 2017, trial balance includes the following account

Question

Stowe Company's December 31, 2017, trial balance includes the following accounts: Investment in Common Stock $70,000, Retained Earnings $114,000, Trademarks $31,000, Preferred Stock $152,000, Common Stock $55,000, Deferred Income Taxes $88,000, Paid-in Capital in Excess of Par-Common Stock $174,000, and Noncontrolling Interest $63,000 Prepare the stockholders' equity section of the balance sheet STOWE COMPANY Balance Sheet (Partial) December 31, 2017 Stockholders' Equity Common Stock 55,000 Preferred Stock 152,000 Paid-in Capital in Excess of Par- Common Stock 174,000 Retained Earnings 114,000 0 -70,000 Total Stockholders' Equity

Explanation / Answer

STOWE COMPANY Balance Sheet (Partial) December 31, 2017 Stockholders' Equity Preferred stock 152000 Common stock 55000 Paid-in capital in excess of par-common stock 174000 Retained earnings 114000 495000 Noncontrolling Interest 63000 Total stockholders' equity 558000

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