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6. The following accounts and their balances appear in the ledger on December 31 of the current year: ? Common Stock, $20 par $400,000 Paid-In
6. The following accounts and their balances appear in the ledger on December 31 of the current year:
?
Common Stock, $20 par | $400,000 |
Paid-In Capital in Excess of Par | 44,000 |
Retained Earnings | 265,000 |
Treasury Stock | 20,000 |
?
Prepare the Stockholders' Equity section of the balance sheet as of December 31. Twenty five thousand shares of common stock are authorized, and 1,000 shares have been reacquired.
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