Prepare in Proper Form the Stockholders' Equity Section of the Balance

question 188

Essay

Prepare in proper form the stockholders' equity section of the balance sheet from the following selected accounts and balances taken from the adjusted trial balance of Waller Corporation as of December 31,20xx.
$$\text { Partial Adjusted Trial Gaalance }$$
$\begin{array}{|l|r|r|}\hline \text { Account } & \text { Debit } & \text { Credit } \\\hline \text { Common Stock- } \$ 10 \text { par value, } 90,000 \text { shares authorized, } 40,000 & \\\quad \text { shares issued and outstanding } && 400,000 \\\text { Preferred Stock- } \$ 100 \text { par value, } 7 \text { percent cumulative, } 50,000 \text { shares } & \\\quad \text { authorized, 8,000 shares issued and outstanding } && 800,000 \\\text { Additional Paid-in Capital, Preferred } & &30,000 \\\text { Additional Paid-in Capital, Common } && 200,000 \\\text { Retained Earnings } && 100,000 \\\hline\end{array}$

Evaluate the effect of price changes on individual preferences and utility.

Apply basic economic principles to real-world scenarios involving consumer behavior and decision-making.

Understand the concepts of normal and inferior goods and their implications for consumer choice.

Analyze the economic implications of policy changes, such as health care reform, on individual welfare.

---

Definitions:

Glossopharyngeal

Pertaining to or involving both the tongue and the pharynx, often in the context of nerves or sensations.

Vagus

Referring to the vagus nerve, the tenth cranial nerve, which innervates various organs and influences functions such as heart rate, digestive tract movement, and reflex actions.

Peristalsis

The wave-like muscle contractions that move food through the digestive tract.

Cerebrospinal Fluid

The clear, protective fluid circulating around the brain and spinal cord.