After closing its books on December 31, 20--, Hilltop Corporation stockholders' equity accounts have the following balances. Complete the stockholders' equity section of the balance sheet.Paid-in capital in excess of par—preferred stock$ 45,000Paid-in capital in excess of par—common stock19,000Paid-in capital from sale of treasury stock32,000Retained earnings111,000Hilltop CorporationStockholders' EquityDecember 31, 20--Paid-in capital: Preferred stock, 6%, $14 par (15,000 shares issued and outstanding) Preferred stock subscribed (6,000 shares) Common stock, $10 par (70,000 shares issued and 44,000 shares outstanding) Common stock subscribed (20,000 shares) Additional paid-in capital: Paid-in capital in excess of par—preferred stock Paid-in capital in excess of par—common stock Paid-in capital from sale of treasury stock Total paid-in capital Retained earnings Less: Treasury stock (5,000 shares; $14 cost per share) Total stockholders' equity

The management prepares the equity statement for the owners to get information about the change in…

Answered: After closing its books on December 31,…

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter12: Statement Of Stockholders’ Equity (stockeq)

Section: Chapter Questions

Problem 1R: Chen Corporation began 2012 with the following stockholders equity balances: The following selected...

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After closing its books on December 31, 20--, Hilltop Corporation stockholders' equity accounts have the following balances. Complete the stockholders' equity section of the balance sheet.

Paid-in capital in excess of par—preferred stock	$ 45,000
Paid-in capital in excess of par—common stock	19,000
Paid-in capital from sale of treasury stock	32,000
Retained earnings	111,000

Hilltop Corporation Stockholders' Equity December 31, 20--
Paid-in capital:
Preferred stock, 6%, $14 par (15,000 shares issued and outstanding)
Preferred stock subscribed (6,000 shares)
Common stock, $10 par (70,000 shares issued and 44,000 shares outstanding)
Common stock subscribed (20,000 shares)
Additional paid-in capital:
Paid-in capital in excess of par—preferred stock
Paid-in capital in excess of par—common stock
Paid-in capital from sale of treasury stock
Total paid-in capital
Retained earnings

Less: Treasury stock (5,000 shares; $14 cost per share)
Total stockholders' equity

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