E15-17B (Stockholders Equity Section) Capital Northeast Corporations post-closin
E15-17B (Stockholders Equity Section) Capital Northeast Corporations post-closing trial balance at December 31 2014 was as follows.At December 31 2014 Capital Northeast had the following number of common and preferred shares. Common PreferredAuthorized 2500000 1000000Issued 500000 65000Outstanding 490000 65000The dividends on preferred stock are 6% cumulative. In addition the preferred stock has a preference in liquidation of $102 per share.InstructionsPrepare the stockholders equity section of Capital Northeasts balance sheet at December 31 2014.(AICPA adapted)
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