Bellezone Corporation's December 31 2017 balance sheet showed the following: 8% preferred stock $20 par value cumulative 20000 shares authorized; 15,000 shares issued $ 300 , 000 Common stock, $ 10 parvalue, 2,000,000 shares authorized; 1 , 950 , 000 shares issued, 1 , 920 , 000 shares outstanding 19 , 500 , 000 Paid-in capital in excess of par-preferred stock 60 , 000 Paid-in capital in excess of par-common stock 27 , 000 , 000 Retained earnings 7 , 500 , 000 Treasury stock (30,000 shares) 630 , 000 \begin{array}{lr} ext {authorized; 15,000 shares issued} & \$ 300,000 \ ext {Common stock, \$ 10 parvalue, 2,000,000 shares authorized;} & \ ext { 1,950,000 shares issued, 1,920,000 shares outstanding} & 19,500,000\ ext { Paid-in capital in excess of par-preferred stock } & 60,000 \ ext { Paid-in capital in excess of par-common stock } & 27,000,000 \ ext { Retained earnings } & 7,500,000 \ ext { Treasury stock (30,000 shares) } & 630,000\end{array} authorized; 15,000 shares issued Common stock, $10 parvalue, 2,000,000 shares authorized; 1 , 950 , 000 shares issued, 1 , 920 , 000 shares outstanding Paid-in capital in excess of par-preferred stock Paid-in capital in excess of par-common stock Retained earnings Treasury stock (30,000 shares) $300 , 000 19 , 500 , 000 60 , 000 27 , 000 , 000 7 , 500 , 000 630 , 000 Bellezone's total stockholders' equity wasA) $53338000.B) $93380000.C) $54538000.D) $53278000.

Question

Bellezone Corporation's December 31 2017 balance sheet showed the following: 8% preferred stock $20 par value cumulative 20000 shares   authorized; 15,000 shares issued $ 300 , 000 Common stock,  $ 10  parvalue, 2,000,000 shares authorized; 1 , 950 , 000  shares issued,  1 , 920 , 000  shares outstanding 19 , 500 , 000  Paid-in capital in excess of par-preferred stock  60 , 000  Paid-in capital in excess of par-common stock  27 , 000 , 000  Retained earnings  7 , 500 , 000  Treasury stock (30,000 shares)   630 , 000 \begin{array}{lr}	ext {authorized; 15,000 shares issued} &  \$ 300,000 \	ext {Common stock,   \$ 10    parvalue, 2,000,000 shares authorized;} & \	ext {  1,950,000    shares issued,   1,920,000    shares outstanding} & 19,500,000\	ext { Paid-in capital in excess of par-preferred stock }  &  60,000 \	ext { Paid-in capital in excess of par-common stock }  &  27,000,000 \	ext { Retained earnings }  &  7,500,000 \	ext { Treasury stock (30,000 shares)  }  &  630,000\end{array} authorized; 15,000 shares issued Common stock, $10 parvalue, 2,000,000 shares authorized; 1 , 950 , 000 shares issued, 1 , 920 , 000 shares outstanding  Paid-in capital in excess of par-preferred stock   Paid-in capital in excess of par-common stock   Retained earnings   Treasury stock (30,000 shares)   ​ $300 , 000 19 , 500 , 000 60 , 000 27 , 000 , 000 7 , 500 , 000 630 , 000 ​   Bellezone's total stockholders' equity wasA)  $53338000.B)  $93380000.C)  $54538000.D)  $53278000.

Sidney Ryann · Accepted Answer

Final Answer : D, Explanation :  The total stockholders' equity is calculated by adding the values of preferred stock, common stock, paid-in capital in excess of par for both preferred and common stock, and retained earnings, then subtracting the cost of treasury stock. Calculation: $300,000 (preferred stock) + $19,500,000 (common stock) + $60,000 (paid-in capital in excess of par-preferred) + $27,000,000 (paid-in capital in excess of par-common) + $7,500,000 (retained earnings) - $630,000 (treasury stock) = $53,730,000 - $630,000 = $53,100,000.

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