Prepare the Stockholders Equity section of the balance sheet from the following account balances: Retained Earnings .....................

Question:

Prepare the Stockholders’ Equity section of the from the following account balances:
Retained Earnings ..................... $ 143,000
Common Stock, $ 40 par (30,000 shares authorized,
10,000 shares issued) .................. 400,000
Preferred 10 Percent Stock, $ 50 par (2,000 shares authorized,
500 shares issued) .................... 25,000
Paid- in Capital in Excess of (for Common Stock) .... 40,000
Preferred 10 Percent Stock Subscribed (400 shares) ....... 20,000

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... Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...