He following information pertains to houston company’s shareholder’s equity at december 31 2019. the company has authorized 100,000 shares of preferred stock, of which issued 20,000 shares are issued and outstanding the stock is cumulative and carries a 4% dividend, a par value of $50 and all the shares had been issued at par. the company had 500,000 shares of $1 par value common stock authorized with 200,000 shares issued and 10,000 held in treasury. the additional paid in capital is $1,200,000. the treasury stock is carried at cost of $150,000. the company had retained earnings of $432,000. required: prepare the shareholder’s equity section of the company’s balance sheet at december 31, 2019.

Kiona co. set up a petty cash fund for payments of small amounts. the following transactions involving the petty cash fund occurred in may (the last month of the company's fiscal year). may 1 prepared a company check for $350 to establish the petty cash fund. 15 prepared a company check to replenish the fund for the following expenditures made since may 1. a. paid $109.20 for janitorial services. b. paid $89.15 for miscellaneous expenses. c. paid postage expenses of $60.90. d. paid $80.01 to the county gazette (the local newspaper) for an advertisement. e. counted $26.84 remaining in the petty cashbox. 16 prepared a company check for $200 to increase the fund to $550. 31 the petty cashier reports that $380.27 cash remains in the fund. a company check is drawn to replenish the fund for the following expenditures made since may 15. f. paid postage expenses of $59.10. g. reimbursed the office manager for business mileage, $47.05. h. paid $48.58 to deliver merchandise to a customer, terms fob destination. 31 the company decides that the may 16 increase in the fund was too large. it reduces the fund by $50, leaving a total of $500.