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On December 31, Westworld Inc. has the following equity accounts and balances: Retained Earnings, $50,500; Common Stock, $2,100; Treasury Stock, $3,100; Paid-In Capital in Excess of Par Value, Common Stock, $40,100; Preferred Stock, $8,100; and Paid-In Capital in Excess of Par Value, Preferred Stock, $4,100. Prepare the stockholders’ equity section of Westworld’s balance sheet. (Negative amount(s) should be indicated by a minus sign.)

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Answer:

$101,800

Explanation:

Westworld Inc.

Stockholder's equity section

Paid in the capital:

Particulars Amount Amount

Common stock $2,100

Additional paid-in capital in excess of par value-Common stock $40,100

Total$42,200

Preferred Stock $8,100

Additional paid-in capital in excess of par value-Preferred Stock $4,100

Total $12,200

Total Paid-in capital $54,400

($42,200+$12,200)

Retained earnings $50,500

Total Paid-in capital and Retained earnings $104,900

($54,400+$50,500)

Less: Treasury stock $-3,100

Total Stockholder's equity $101,800

The value of the total stockholder's equity will be $101800.

The stockholders’ equity section of Westworld’s balance sheet will be calculated thus:

  • Common stock = $2100
  • Add: Additional paid in capital = $40100
  • Add: Preferred stock = $8100
  • Add: Additional paid in capital for preferred stock = $4100
  • Add: Retained earnings = $50500
  • Less: Treasury stock = $3100
  • Total stockholders equity = $101800

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