Chapter 11 Homework 5 SIVE 10 paints ellook United Resources Company obtained a charter from the...

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Chapter 11 Homework 5 SIVE 10 paints ellook United Resources Company obtained a charter from the state In January of this year. The charter authorized 200,000 shares of common stock with a par value of $1. During the year, the company earned $590,000. Also during the year, the following selected transactions occurred in the order given: a. Sold 100,000 shares of the common stock in an initial public offering for $12 per share. b. Repurchased 20,000 shares of the previously issued shares for $15 per share and is holding them as treasury stock. c. Resold 5,000 shares of treasury stock for $18 per share. Required: Prepare the stockholders' equity section of the balance sheet at the end of the year. Note: Amounts to be deducted should be indicated with a minus sign. Print References Stockholders' equity: Mc Graw Hill Contributed capital: UNITED RESOURCES COMPANY Balance Sheet (Partial) At December 31, This year Common stock Additional paid-in capital Total contributed capital Retained earnings Treasury stock $100,000 1,115,000 $1,215,000 590,000 210,000 Total stockholders equity $2,015,000 < Prev 5 of 10 Next > Help Save & Exit Submit Check my work Chapter 11 Homework 5 SIVE 10 paints ellook United Resources Company obtained a charter from the state In January of this year. The charter authorized 200,000 shares of common stock with a par value of $1. During the year, the company earned $590,000. Also during the year, the following selected transactions occurred in the order given: a. Sold 100,000 shares of the common stock in an initial public offering for $12 per share. b. Repurchased 20,000 shares of the previously issued shares for $15 per share and is holding them as treasury stock. c. Resold 5,000 shares of treasury stock for $18 per share. Required: Prepare the stockholders' equity section of the balance sheet at the end of the year. Note: Amounts to be deducted should be indicated with a minus sign. Print References Stockholders' equity: Mc Graw Hill Contributed capital: UNITED RESOURCES COMPANY Balance Sheet (Partial) At December 31, This year Common stock Additional paid-in capital Total contributed capital Retained earnings Treasury stock $100,000 1,115,000 $1,215,000 590,000 210,000 Total stockholders equity $2,015,000 < Prev 5 of 10 Next > Help Save & Exit Submit Check my work