Cloud CoHad the Following Account Balances at December 31,2017 Prepare the Stockholders' Equity Section of the Balance Sheet for

question 134

Essay

Cloud Co.had the following account balances at December 31,2017:
$\begin{array}{lr}\text { Retained earnings } & \$ 52,000 \\\text { Treasury stock, } 500 \text { common shares at cost } & (10,000) \\\text { Common stock, } \$ 1 \text { par value, } 10,000 \text { shares authorized, } 4,000 \text { shares issued and } \\\text { outstanding }&4,000\\ \text { Cash dividends payable\_common } & 6,000 \\\text { Additional paid-in capital—common } & 1,200 \\\text { Additional paid-in capital—treasury stock } & 900 \\\text { Common stock dividend distributable } & 6,200\end{array}$


Prepare the Stockholders' Equity section of the balance sheet for Cloud Co.at December 31,2017.

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Definitions:

TAT

The thematic apperception test, a projective psychological test used to reveal a person's social drives or needs by their interpretation of a series of pictures of emotionally ambiguous situations.

Social Loafing

The phenomenon where individuals exert less effort to achieve a goal when they work in a group than when they work alone.

Social Impact Theory

Social impact theory suggests that the amount of influence a person experiences in a group situation depends on the strength, immediacy, and number of other people in the group.

Social Expectation

Norms or standards that a society or community holds, which guide and shape behaviors and attitudes of its members.