The following accounts appear in the ledger of Concord Corporation after the boo
ID: 2581864 • Letter: T
Question
The following accounts appear in the ledger of Concord Corporation after the books are dosed at December 31, 2019. Common Stock, no par, 3 stated value, 411,000 shares authorized: 305,000 shares issued 915,000 Common Stock Dividends Distributable Paid-in Capital in Excess of Stated Value-Common Stock Preferred Stock, $5 par value, 8%, 45,000 shares authorized: 29,800 shares issued Retained Earnings Treasury Stock (13,000 common shares) Paid-in Capital in Excess of Par-Preferred Stock Accumulated Other Comprehensive Loss 1,100,000 149,000 Prepare the stockholders' equity section at December 3 information. 2019, assuminq retained earnings is restri ed or plant expansion in the amount of $115,000. Fur capital stock first nter he preferred stock details Enter account ndme n y din do not provide descriptive Concord Corporation Balanoe Sheet (Partial) Faid in CspitsExplanation / Answer
Concord Corporation
Balance Sheet (Partial)
December 31, 2019
102700
Total Stockholders Equity = $3,239,300
PARTICULARS AMOUNT ($) AMOUNT ($) Shareholders Equity: Paid-in-Capital: Capital Stock Preferred stock $ 5 part value, 45000 shares shares authorised, 29800 shares issued 149000 Common stock $3 Partners value, 411000 shares authorised, 305000 shares issued 915000 Common stock dividends distributable 29000 944000 Total capital stock 1093000 Additional Paid-in-Capital: In excess of partnership value - preferred 348000 In excess of par value - Common 1100000 Total Additional Paid-in-Capital 1448000 Total Paid-in-Capital 2541000 Retained earnings (see note) 801000 Total Paid-in-Capital and retaining earnings 3342000 Less:- Treasury Stock102700