Exercise 11-20 The following accounts appear in the ledger of Sheffield Corp. after the books...
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Accounting
Exercise 11-20
The following accounts appear in the ledger of Sheffield Corp. after the books are closed at December 31, 2019:
| Common Stock, no par, $3 stated value, 387,000 shares authorized; 275,000 shares issued | $ 825,000 | |
| Common Stock Dividends Distributable | 31,000 | |
| Paid-in Capital in Excess of Stated ValueCommon Stock | 1,300,000 | |
| Preferred Stock, $6 par value, 8%, 35,000 shares authorized; 26,700 shares issued | 160,200 | |
| Retained Earnings | 839,000 | |
| Treasury Stock (10,200 common shares) | 81,600 | |
| Paid-in Capital in Excess of ParPreferred Stock | 340,000 | |
| Accumulated Other Comprehensive Loss | 31,500 |
Prepare the stockholders equity section at December 31, 2019, assuming retained earnings is restricted for plant expansion in the amount of $116,000. For capital stock first enter the preferred stock details. (Enter account name only and do not provide descriptive information.)
| Sheffield Corp. Balance Sheet (Partial) |
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