P11-6B The post-closing trial balance of Chen Corporation at December 31, 2011, contains the following stockholders’ equity accounts.
P11-6B The post-closing trial balance of Chen Corporation at December 31, 2011, contains the following stockholders’ equity accounts.Preferred Stock (15,000 shares issued) $ 750,000Common Stock (250,000 shares issued) 2,500,000Paid-in Capital in Excess of Par Value—Preferred 250,000Paid-in Capital in Excess of Par Value—Common 400,000Common Stock Dividends Distributable 250,000Retained Earnings 902,000A review of the accounting records reveals the following.1. No errors have been made in recording 2011 […]
