710 | Interest Expense 3. AmountDescriptions | | Cash balance, July 31, 2016 | | Common stock, $20 stated value;500,000 shares authorized, 375,000 issued | | Common stock, $20 stated value;500,000 shares authorized, 438,000 issued | | Common stock, $20 stated value;500,000 shares authorized, 468,000 issued | | Decrease in retained earnings | | Dividends | | Excess of issue price over statedvalue | | For the Year Ended December 31,2016 | | From sale of treasury stock | | Increase in retained earnings | | Net income | | Net loss | | Retained earnings | | Retained earnings, December 31,2016 | | Retained earnings, January 1,2016 | | Total | | Total paid-in capital | | Total stockholdersâ equity | | X 4. T Accounts: A. Enter the January 1 balances in T accounts for thestockholdersâ equity accounts listed. Post the journal entries frompart B to the eight selected accounts. No post ref is required inthe journal. Paid-In Capital inExcess of Stated Value-Common Stock | | | | | | | | | | | | | | | | | Paid-In Capital fromSale of Treasury Stock | | | | | Stock DividendsDistributable | | | | | X 5. Journal B. Journalize the entries to record the transactions. No postref is required in the journal. Refer to the Chart of Accounts forexact wording of account titles. PAGE 10 JOURNAL | DATE | DESCRIPTION | POST.REF. | DEBIT | CREDIT | 1 | | | | | | 2 | | | | | | 3 | | | | | | 4 | | | | | | 5 | | | | | | 6 | | | | | | 7 | | | | | | 8 | | | | | | 9 | | | | | | 10 | | | | | | 11 | | | | | | 12 | | | | | | 13 | | | | | | 14 | | | | | | 15 | | | | | | 16 | | | | | | 17 | | | | | | 18 | | | | | | 19 | | | | | | 20 | | | | | | 21 | | | | | | 22 | | 6.Retained Earning Statements C. Prepare a retained earnings statement for the year endedDecember 31, 2016. Enter all amounts as positive numbers. The wordâLessâ is not required. Refer to the list of Amount Descriptionsprovided for the exact wording of the answer choices for textentries. Morrow Enterprises | Retained Earnings Statement | For the Year Ended December 31, 2016 | | | |
| 7. Stockholdersâ Equity D. Prepare the Stockholdersâ Equity section of the December 31,2016 balance sheet. âLessâ or âDeductâ will automatically appear ifit is required. Refer to the list of Amount Descriptions providedfor the exact wording of the answer choices for text entries. 1 | Paid-in capital: | | | | 2 | | | | | 3 | | | | | 4 | | | | | 5 | | | | | 6 | | | | | 7 | | | | | 8 | | | |