Question

Riverbed Corporation’s post-closing trial balance at December 31, 2017, is shown as follows. RIVERBED CORPORATION POST-CLOSING...

Riverbed Corporation’s post-closing trial balance at December 31, 2017, is shown as follows. RIVERBED CORPORATION POST-CLOSING TRIAL BALANCE DECEMBER 31, 2017 Dr. Cr. Accounts payable $ 160,900 Accounts receivable $ 491,000 Accumulated depreciation—buildings 202,000 Additional paid-in capital in excess of par—common 1,346,000 From treasury stock 165,000 Allowance for doubtful accounts 28,000 Bonds payable 281,000 Buildings 1,344,000 Cash 171,000 Common stock ($1 par) 206,000 Dividends payable (preferred stock—cash) 4,100 Inventory 505,000 Land 416,000 Preferred stock ($50 par) 450,000 Prepaid expenses 41,000 Retained earnings 304,000 Treasury stock (common at cost) 179,000 Totals $3,147,000 $3,147,000 At December 31, 2017, Riverbed had the following number of common and preferred shares.

Common Preferred Authorized 618,000 54,000 Issued 206,000 9,000 Outstanding 192,000 9,000 The dividends on preferred stock are $4 cumulative. In addition, the preferred stock has a preference in liquidation of $50 per share. Prepare the stockholders’ equity section of Riverbed’s balance sheet at December 31,

Homework Answers

Answer #1
Stockholders' Equity
31-Dec-17
Capital stock
Preferred stock, $4 cumulative, par value $50 per share; authorized 54,000 shares, issued and outstanding 9,000 shares 450000
Common stock, par value $1 per share, authorized 618,000 shares, issued 206,000 shares, and outstanding 192,000 shares 206000
Total capital stock 656000
Additional paid-in capital:
In excess of par value 1346000
From sale of treasury stock 165000
Total paid-in capital 2167000
Retained earnings 304000
Total paid-in capital and retained earnings 2471000
Less: Treasury stock, 14,000 shares at cost -179000
Total stockholders' equity 2292000
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