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Prepare the Stockholders' Equity Section Wildcat Drilling has the following accounts on its trial balance. DATA Retained earnings Cash Additional paid-in capital-common Additional paid-in capital-preferred Accounts payable Accounts receivable Common stock, $2 par Preferred stock, $10 par Inventory S Treasury stock-common (40,000 shares) 5 Accumulated other comprehensive income 3 5 Stockholders' equity: B Additional paid-in capital: Total additional paid-in capital 3 Total capital stock 3 REQUIRED: O Prepare the stockholders' equity portion of Wildcat's balance sheet. Debit Total stockholders' equity 125,000 150,000 Wildcat Drilling Balance Sheet (Partial) December 31 500,000 250,000 C Credit 1,500,000 Type in the item descriptions and use formulas and cell references from the problem data to enter amounts. Formulas entered in the green cells show in the orange cells. Transfer amounts to CNOWV2 for grading. 10,000,000 2,000,000 75,000 800,000 600,000 51,500 D Formulas

Prepare the Stockholders' Equity Section Wildcat Drilling has the following accounts on its trial balance. DATA Retained earnings Cash Additional paid-in capital-common Additional paid-in capital-preferred Accounts payable Accounts receivable Common stock, $2 par Preferred stock, $10 par Inventory S Treasury stock-common (40,000 shares) 5 Accumulated other comprehensive income 3 5 Stockholders' equity: B Additional paid-in capital: Total additional paid-in capital 3 Total capital stock 3 REQUIRED: O Prepare the stockholders' equity portion of Wildcat's balance sheet. Debit Total stockholders' equity 125,000 150,000 Wildcat Drilling Balance Sheet (Partial) December 31 500,000 250,000 C Credit 1,500,000 Type in the item descriptions and use formulas and cell references from the problem data to enter amounts. Formulas entered in the green cells show in the orange cells. Transfer amounts to CNOWV2 for grading. 10,000,000 2,000,000 75,000 800,000 600,000 51,500 D Formulas

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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12 34567 20 8 Additional paid-in capital-common 9 Additional paid-in capital-preferred 10 Accounts payable 11 Accounts receivable 12 Common stock, $2 par 13 Preferred stock, $10 par 22225 21 A Prepare the Stockholders' Equity Section Wildcat Drilling has the following accounts on its trial balance. 23 DATA 24 Retained earnings Cash 14 Inventory 15 Treasury stock-common (40,000 shares) 16 Accumulated other comprehensive income 17 18 REQUIRED: 19 Prepare the stockholders' equity portion of Wildcat's balance sheet. B 25 26 Stockholders' equity: 27 28 29 Additional paid-in capital: 30 31 32 Total additional paid-in capital 33 Total capital stock 34 35 36 37 Total stockholders' equity 38 39 40 41 42 < Data + Debit Workbook Statistics 125,000 150,000 Wildcat Drilling Balance Sheet (Partial) December 31 500,000 250,000 C Credit 1,500,000 10,000,000 2,000,000 75,000 Type in the item descriptions and use formulas and cell references from the problem data to enter amounts. Formulas entered in the green cells show in the orange cells. Transfer amounts to CNOWV2 for grading. 800,000 600,000 51,500 D Formulas E Give Feedb
Transcribed Image Text:12 34567 20 8 Additional paid-in capital-common 9 Additional paid-in capital-preferred 10 Accounts payable 11 Accounts receivable 12 Common stock, $2 par 13 Preferred stock, $10 par 22225 21 A Prepare the Stockholders' Equity Section Wildcat Drilling has the following accounts on its trial balance. 23 DATA 24 Retained earnings Cash 14 Inventory 15 Treasury stock-common (40,000 shares) 16 Accumulated other comprehensive income 17 18 REQUIRED: 19 Prepare the stockholders' equity portion of Wildcat's balance sheet. B 25 26 Stockholders' equity: 27 28 29 Additional paid-in capital: 30 31 32 Total additional paid-in capital 33 Total capital stock 34 35 36 37 Total stockholders' equity 38 39 40 41 42 < Data + Debit Workbook Statistics 125,000 150,000 Wildcat Drilling Balance Sheet (Partial) December 31 500,000 250,000 C Credit 1,500,000 10,000,000 2,000,000 75,000 Type in the item descriptions and use formulas and cell references from the problem data to enter amounts. Formulas entered in the green cells show in the orange cells. Transfer amounts to CNOWV2 for grading. 800,000 600,000 51,500 D Formulas E Give Feedb
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