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Reporting Stockholders' Equity On December 31, 2020, Nakoma Inc. had the following account balances. Preferred stock, $100 par, 5,000 shares authorized Paid-in capital in excess of par-Preferred stock Common stock, $1 par, 250,000 shares authorized Paid-in capital in excess of par-Common stock Retained earnings Accumulated other comprehensive income Treasury stock, 2,880 shares Noncontrolling interests $48,000 Cr. 192,000 Cr. 84,000 Cr. 1,152,000 Cr. 864,000 Cr. 115,200 Cr. 132,000 Dr. 12,000 Cr. Prepare the stockholders' equity section of the balance sheet for Nakoma Inc. on December 31, 2020. State the par value per share, and the number of shares authorized, issued, and outstanding for common stock and preferred stock on the face of the statement. Balance Sheet (excerpt) December 31, 2020 Stockholders' equity Common stock ($1 par value, 250,000 shares authorized, 0 shares issued, Preferred stock ($100 par value, 5,000 shares authorized, 0 shares issued and outstanding) Paid-in capital in excess of par Retained earnings 0 shares outstanding) $ Accumulated other comprehensive income Less: Treasury stock, 2,880 shares Total equity attributable to Nakoma Inc. stockholders Equity attributable to noncontrolling interests Total stockholders' equity $ 0 0 OOO OO 0 0 0 0 OO 0 0

Reporting Stockholders' Equity On December 31, 2020, Nakoma Inc. had the following account balances. Preferred stock, $100 par, 5,000 shares authorized Paid-in capital in excess of par-Preferred stock Common stock, $1 par, 250,000 shares authorized Paid-in capital in excess of par-Common stock Retained earnings Accumulated other comprehensive income Treasury stock, 2,880 shares Noncontrolling interests $48,000 Cr. 192,000 Cr. 84,000 Cr. 1,152,000 Cr. 864,000 Cr. 115,200 Cr. 132,000 Dr. 12,000 Cr. Prepare the stockholders' equity section of the balance sheet for Nakoma Inc. on December 31, 2020. State the par value per share, and the number of shares authorized, issued, and outstanding for common stock and preferred stock on the face of the statement. Balance Sheet (excerpt) December 31, 2020 Stockholders' equity Common stock ($1 par value, 250,000 shares authorized, 0 shares issued, Preferred stock ($100 par value, 5,000 shares authorized, 0 shares issued and outstanding) Paid-in capital in excess of par Retained earnings 0 shares outstanding) $ Accumulated other comprehensive income Less: Treasury stock, 2,880 shares Total equity attributable to Nakoma Inc. stockholders Equity attributable to noncontrolling interests Total stockholders' equity $ 0 0 OOO OO 0 0 0 0 OO 0 0

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter10: Stockholder's Equity
Section: Chapter Questions
Problem 57E: Outstanding Stock Lars Corporation shows the following information in the stockholders equity...
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Reporting Stockholders' Equity On December 31, 2020, Nakoma Inc. had the following account balances. Preferred stock, $100 par, 5,000 shares authorized Paid-in capital in excess of par-Preferred stock Common stock, $1 par, 250,000 shares authorized Paid-in capital in excess of par-Common stock Retained earnings Accumulated other comprehensive income Treasury stock, 2.880 shares Noncontrolling interests Balance Sheet (excerpt) December 31, 2020 Prepare the stockholders' equity section of the balance sheet for Nakoma Inc. on December 31, 2020. State the par value per share, and the number of shares authorized, issued, and outstanding for common stock and preferred stock on the face of the statement. $48,000 Cr. 192,000 Cr. 84,000 Cr. 1,152,000 Cr. 864,000 Cr. 115,200 Cr. Paid-in capital in excess of par Retained earnings Stockholders' equity Common stock ($1 par value, 250,000 shares authorized, 0 shares issued, 132,000 Dr. 12,000 Cr. 0 shares outstanding) $ Preferred stock ($100 par value, 5,000 shares authorized, 0 shares issued and outstanding) Accumulated other comprehensive income Less: Treasury stock, 2,880 shares Total equity attributable to Nakoma Inc. stockholders Equity attributable to noncontrolling interests Total stockholders' equity $ 0 oooooooo 0 0 0
Transcribed Image Text:Reporting Stockholders' Equity On December 31, 2020, Nakoma Inc. had the following account balances. Preferred stock, $100 par, 5,000 shares authorized Paid-in capital in excess of par-Preferred stock Common stock, $1 par, 250,000 shares authorized Paid-in capital in excess of par-Common stock Retained earnings Accumulated other comprehensive income Treasury stock, 2.880 shares Noncontrolling interests Balance Sheet (excerpt) December 31, 2020 Prepare the stockholders' equity section of the balance sheet for Nakoma Inc. on December 31, 2020. State the par value per share, and the number of shares authorized, issued, and outstanding for common stock and preferred stock on the face of the statement. $48,000 Cr. 192,000 Cr. 84,000 Cr. 1,152,000 Cr. 864,000 Cr. 115,200 Cr. Paid-in capital in excess of par Retained earnings Stockholders' equity Common stock ($1 par value, 250,000 shares authorized, 0 shares issued, 132,000 Dr. 12,000 Cr. 0 shares outstanding) $ Preferred stock ($100 par value, 5,000 shares authorized, 0 shares issued and outstanding) Accumulated other comprehensive income Less: Treasury stock, 2,880 shares Total equity attributable to Nakoma Inc. stockholders Equity attributable to noncontrolling interests Total stockholders' equity $ 0 oooooooo 0 0 0
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