List the errors in the following Stockholders ' Equity section of the balance sheet prepared as of the end of the current year Stockholders ' Equity Paid in capital Preferred 2 stock, $80 par (125,000 shares authorized and issued) Excess of issue price over par Retained earnings $10,000,000 96,700,...

1 Retained earnings are not part of paid in capital 2 The cost of treasury stock should be deducted ...

List the errors in the following Stockholders' Equity section of the balance sheet prepared as of the

Question:

List the errors in the following Stockholders' Equity section of the prepared as of the end of the current year:
Stockholders' Equity

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...