Contributed Capital A partial list of the accounts and ending account balances taken from the post-closing trial balance of Jordan Corporation on December 31, 2019, is as follows:
Additional information;
Required:
Prepare the Contributed Capital section of the December 31, 2019, balance sheet for Jordan. Include appropriate parenthetical notes for the common and preferred stock.
Prepare a contributed capital section of Corporation J as on December 31, 2019.
Contributed Capital: Contributed capital is the total amount of cash or assets received by company in exchange for the issue of shares. This is also known as paid-in capital.
Prepare a contributed capital section of Corporation J as on December 31, 2019.
Corporation J | |
Shareholders' Equity | |
December 31, 2019 | |
Contributed capital | Â |
Preferred stock, 7%, 550 par (cumulative and convertible into 5 shares of common stock, 8,000shares authorized. 6,000 shares issued. and outstanding) | $300,000 |
Preferred stock subscribed (700 shares, $70 subscription price) | $35,000 |
Common stock... |
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