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Prepare the stockholders? equity section of Capital Northeast?s balance sheet at December 31, 2008.

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E13-17B (Stockholders? Equity Section) Capital Northeast Corporation?s post-closing trial balance at December 31, 2008, was as follows.;????????????????????????????????????????Capital Northeast Corporation Post-Closing Trial Balance December 31, 2008;$;Accounts payable;Accounts receivable;Accumulated depreciation?equipment Additional paid-in capital?common;In excess of par value;From sale of treasury stock Allowance for doubtful accounts Equipment;Cash;Common stock ($1 par value);Dividends payable on common stock?cash Inventories;Investments;Preferred stock ($100 par value);Prepaid insurance;Retained earnings;Treasury stock?common at cost;Totals;Dr. 605,000;6,800,000 260,000;750,000 2,500,000;65,000;125,000 $11,105,000;$;Cr. 668,000;450,000;1,900,000 35,000 20,000;500,000 50,000;6,500,000 982,000;??$11,105,000;????At December 31, 2008, Capital Northeast had the following number of common and preferred shares.;??Authorized Issued Outstanding;Common;2,500,000 500,000 490,000;Preferred;1,000,000 65,000 65,000;The dividends on preferred stock are 6% cumulative. In addition, the preferred stock has a preference in liqui- dation of $102 per share.;Instructions;Prepare the stockholders? equity section of Capital Northeast?s balance sheet at December 31, 2008.

 

Paper#20825 | Written in 18-Jul-2015

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