Marigold Corp. has these accounts at December 31: Common Stock, $12 par, 5,200 shares issued, $62,400; Paid-in Capital in Excess of Par Value $18,700; Retained Earnings $43,700; and Treasury Stock, 470 shares, $10,340. Prepare the stockholders' equity section of the balance sheet.

Question

Business

Eva Gallegos

26 December, 06:53

Marigold Corp. has these accounts at December 31: Common Stock, $12 par, 5,200 shares issued, $62,400; Paid-in Capital in Excess of Par Value $18,700; Retained Earnings $43,700; and Treasury Stock, 470 shares, $10,340. Prepare the stockholders' equity section of the balance sheet.

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Answers (1)

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Eric Gentry · Answer 1

Total Paid in capital = $81100

Total paid in capital and retained earnings = $124800

Total Stockholder's equity are = $114460

Explanation:

given data

Common Stock = $12 par value 5200 shares

shares issued = $62400

Paid-in Capital = $18700

Retained Earnings = $43700

Treasury Stock 470 shares = $10340

to find out

stockholders' equity section of the balance sheet

solution

we get first Total Paid in capital that is

Total Paid in capital = shares issued + Paid-in Capital ... 1

Total Paid in capital = $62400 + $18700

Total Paid in capital = $81100

and

Total paid in capital and retained earnings = Total Paid in capital + Retained Earnings ... 2

Total paid in capital and retained earnings = $81100 + $43700

Total paid in capital and retained earnings = $124800

and

so Total Stockholder's equity are = Total paid in capital and retained earnings - Treasury stock ... 3

Total Stockholder's equity are = $124800 - $10340

Total Stockholder's equity are = $114460