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eBook Question Content Area Stockholders' Equity Section of Balance Sheet The following accounts and their balances appear in the ledger of Goodale Properties Inc. on
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Stockholders' Equity Section of Balance Sheet
The following accounts and their balances appear in the ledger of Goodale Properties Inc. on June 30 of the current year:
Common Stock, $15 par | $684,000 |
Paid-In Capital from Sale of Treasury Stock | 28,100 |
Paid-In Capital in Excess of ParCommon Stock | 18,240 |
Retained Earnings | 1,074,000 |
Treasury Stock | 14,155 |
Prepare the Stockholders Equity section of the balance sheet as of June 30 using Method 1 of Exhibit 8. Eighty thousand shares of common stock are authorized, and 745 shares have been reacquired.
Paid-In Capital: | |||
Deduct Treasury Stock (745 Shares at Cost)CashCommon Stock, $45 Par (80,000 Shares Authorized, 15,200 Shares Issued)From Sale of Treasury StockRetained Earnings | $- Select - | ||
CashCommon stock, $45 par (80,000 shares authorized, 68,000 shares issued)Excess over parTreasury Stock (745 Shares at Cost)Retained Earnings | - Select - | ||
CashExcess over parPaid-in capital, common stockTreasury Stock (745 Shares at Cost)Retained Earnings | $- Select - | ||
CashCommon stock, $45 par (80,000 shares authorized, 68,000 shares issued)From Sale of Treasury StockRetained EarningsTreasury Stock (745 Shares at Cost) | - Select - | ||
Total Paid-In Capital | $fill in the blank 9 | ||
Common stock, $45 par (80,000 shares authorized, 68,000 shares issued)Excess over parFrom Sale of Treasury StockRetained EarningsTreasury Stock (745 Shares at Cost) | - Select - | ||
Total | $fill in the blank 12 | ||
Common stock, $45 par (80,000 shares authorized, 68,000 shares issued)Excess over parRetained EarningsTreasury Stock (745 Shares at Cost) | - Select - | ||
Total Stockholders' Equity | $fill in the blank 15 |
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