E11-3 (Algo) Preparing the Stockholders' Equity Section of the Balance Sheet [LO 11-2, LO 11-4] North Wind Aviation received its charter during January authorizing the following capital stock: Preferred stock: 8 percent, par $10, authorized 20,000 shares.Common stock: par $1, authorized 50,000 shares. The following transactions occurred during the first year of operations in the order given: Issued a total of 41,000 shares of the common stock for $16 per share. Issued 11,000 shares of the preferred stock at $17 per share. Issued 3,100 shares of the common stock at $21 per share and 1,100 shares of the preferred stock at $17. Net income for the first year was $49,000, but no dividends were declared. Extracted text: NORTH WIND AVIATION Balance Sheet (Partial) At December 31 Stockholders' Equity Contributed Capital: Common Stock 24 656,000 X Additional Paid-In Capital, Common Stock 65,100 X Preferred Stock 187,000 X Additional Paid-In Capital, Preferred Stock 18,700 X Total Contributed Capital 926,800 Retained Earnings 49,000 Total Stockholders' Equity $ 975,800 %24

E11-3 (Algo) Preparing the Stockholders' Equity Section of the Balance Sheet [LO 11-2, LO 11-4] North Wind Aviation received its charter during January authorizing the following capital stock:...

E11-3 (Algo) Preparing the Stockholders' Equity Section of the Balance Sheet [LO 11-2, LO 11-4]

North Wind Aviation received its charter during January authorizing the following capital stock:

Preferred stock: 8 percent, par $10, authorized 20,000 shares.
Common stock: par $1, authorized 50,000 shares.

The following transactions occurred during the first year of operations in the order given:

Issued a total of 41,000 shares of the common stock for $16 per share.

Issued 11,000 shares of the preferred stock at $17 per share.

Issued 3,100 shares of the common stock at $21 per share and 1,100 shares of the preferred stock at $17.

Net income for the first year was $49,000, but no dividends were declared.

NORTH WIND AVIATION<br>Balance Sheet (Partial)<br>At December 31<br>Stockholders' Equity<br>Contributed Capital:<br>Common Stock<br>24<br>656,000 X<br>Additional Paid-In Capital, Common Stock<br>65,100 X<br>Preferred Stock<br>187,000 X<br>Additional Paid-In Capital, Preferred Stock<br>18,700 X<br>Total Contributed Capital<br>926,800<br>Retained Earnings<br>49,000<br>Total Stockholders' Equity<br>$<br>975,800<br>%24<br>

Extracted text: NORTH WIND AVIATION Balance Sheet (Partial) At December 31 Stockholders' Equity Contributed Capital: Common Stock 24 656,000 X Additional Paid-In Capital, Common Stock 65,100 X Preferred Stock 187,000 X Additional Paid-In Capital, Preferred Stock 18,700 X Total Contributed Capital 926,800 Retained Earnings 49,000 Total Stockholders' Equity $ 975,800 %24

Jun 08, 2022

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E11-3 (Algo) Preparing the Stockholders' Equity Section of the Balance Sheet [LO 11-2, LO 11-4] North Wind Aviation received its charter during January authorizing the following capital stock:...

E11-3 (Algo) Preparing the Stockholders' Equity Section of the Balance Sheet [LO 11-2, LO 11-4]

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