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At December 31, Idaho Company had the following ending account balances: Retained Earnings $250,000 Preferred Stock ($100 par, 7% cumulative, 10,000 authorized, 5,000 issued and
At December 31, Idaho Company had the following ending account balances:
Retained Earnings | $250,000 |
Preferred Stock ($100 par, 7% cumulative, 10,000 authorized, 5,000 issued and outstanding) | 500,000 |
Treasury Stock | 40,000 |
Paid-In Capital in Excess of ParCommon Stock | 625,000 |
Paid-In Capital in Excess of ParPreferred Stock | 50,000 |
Common Stock ($5 par value, 500,000 shares authorized, 105,000 issued) | 525,000 |
Required: | |
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Prepare the Stockholders' equity section of the balance sheet in good form with all of the required disclosures. Refer to the lists of Amount Descriptions provided for the exact wording of the answer choices for text entries. Deduct will automatically appear if required. Enter all numbers as positive numbers. |
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