Question
Foyle Corporation has issued 106,100 shares of $4 par value common stock. It was authorized 499,100 shares. The paid-in capital in excess of par value
Foyle Corporation has issued 106,100 shares of $4 par value common stock. It was authorized 499,100 shares. The paid-in capital in excess of par value on the common stock is $275,100. The corporation has reacquired 6,900 shares at a cost of $51,480 and is currently holding those shares.
The corporation also has 3,000 shares issued and outstanding of 10%, $100 par value preferred stock. It authorized 9,530 shares. The paid-in capital in excess of par value on the preferred stock is $28,200. Retained earnings is $365,600.
Prepare the stockholder's equity section of the balance sheet.
This is the list of account titles I can use for the balance sheet:
Accounts Payable Accounts Receivable Accumulated Depreciation-Buildings Allowance for Doubtful Accounts Bad Debt Expense Buildings Cash Cash Dividends Common Stock Common Stock Dividends Distributable Depreciation Expense Dividends Payable Income Summary Income Tax Expense Income Taxes Payable Land No Entry Other Operating Expenses Paid-in Capital in Excess of Par Value-Common Stock Paid-in Capital in Excess of Par Value-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Preferred Stock Retained Earnings Service Revenue Stock Dividends Supplies Supplies Expense Treasury Stock Unearned Service Revenue
Side note: (not part of the question) Thank you! This is my last question for the month. Thanks to all of the Chegg experts out there! I appreciate you.
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