Question

The following accounts appear in the ledger of Oriole Company after the books are closed at December 31, 2020.

Answer 1

Answer and Explanation:

The preparation of the stockholders’ equity section at December 31, 2020 is presented below:

                                              Oriole Company

                                 Stockholders’ equity section

                                           December 31, 2020

Particulars                                                                         Amount

Stockholder equity:

Paid in capital:

Capital Stock  

Preferred stock                                                                $143,500

Common Stock dividend                    $568,000

Common Stock Dividends Distributable $25,000        $593,000

Total capital stock                                                            $736,500

Additional paid in capital

Paid-in Capital in Excess of Par - Preferred Stock          $343,000

Paid-in Capital in Excess of Stated Value - Common Stock $1,110,000

Total paid in capital                                                               $2,189,500

Add: Retained earnings                                                         $758,000

Total paid in capital and retained earnings                          $2,947,500

Less: Treasury stock                                                               -$96,600

Less: Accumulated Other Comprehensive Loss                    -$34,500

Total Stockholder equity                                                          $2,816,400

We deduct the treasury stock and the accumulated other comprehensive loss and rest items are added so that the total stockholder equity could arrive

Answer 2

Answer:

15.02

Explanation:

because of the section