Question - The following are selected accounts for the Alpha Dog Company after all Fiscal year December 31, 2016, adjusting entries and closing entries have been posted. All balances are normal.
Common Stock, $5 par = $150,000
Treasury Stock, at cost $10 per share = $20,000
Dividends Payable = $5,000
Paid in Capital in excess of par, common stock = $30,000
Paid in Capital in excess of par, Preferred Stock = $3500
Bonds Payable = $75000
Preferred Stock, $100 par, 5% cumulative = 35,000
On December 31, 2016, Common stock was authorized 50,000 shares and Preferred Stock was authorized 5,000 shares. Prepare only the stockholders Equity section of the classified balance sheet for the year end. Be sure to use a good format, dollar signs and single underlines were required. There are a few extra lines in the formatter input answer to allow for acceptable balance sheet format variations.