Question
Burks Corporations December 31, 2020 balance sheet showed the following: 6% preferred stock, $20 par value, cumulative, 30,000 shares authorized; 20,000 shares issued $ 400,000
Burks Corporations December 31, 2020 balance sheet showed the following:
6% preferred stock, $20 par value, cumulative, 30,000 shares authorized; 20,000 shares issued $ 400,000 Common stock, $10 par value, 3,000,000 shares authorized; 1,950,000 shares issued, 1,920,000 shares outstanding 19,500,000 Paid-in capital in excess of par value preferred stock 60,000 Paid-in capital in excess of par value common stock 28,000,000 Retained earnings 9,650,000 Treasury stock (30,000 shares) 630,000 Instructions:
Show all supporting work below your answer. Include accounts and dollar amounts used in your calculation to receive credit. Add space where necessary to include work.
(a) Burks Corporation Total paid in capital at December 31 is: Fill in answer and list account titles, and dollar amounts below)
(b) Burks Corporation Total Stockholders Equity at December 31 is: Fill in answer and list account titles, and dollar amounts below)
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