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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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