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help with the balance sheet The ledger ol Ayayal Corp. at December 31. 2022 after the books have been closed contains the following stockholders fquity
help with the balance sheet
The ledger ol Ayayal Corp. at December 31. 2022 after the books have been closed contains the following stockholders fquity accounts. A review of the accounting records reveals this information: 1. Preferred stockis 876,5103 par value, noncumulathe. Since danuary 1, 2021, 12.200 shares have been outstanding 24,400 shares are authorized. 2. Common stock is no-par with a stated value of $6 per share: 624,000 shares are authorized. 3. The Jamary 1, 2022 balance in Retained Earnings was 52,292.000. 4. On October 1, 65,500 chares of comenon stock were sold for cash at $9 per share. 5. A eash dividend of $392.000 was declared and properly allocated to preferred and common stock on November 1 . No dividends were paid to preferred stociholders in 2021 6. Net income for the year was $853,000. 7. On December 31,2022 , the directors authorized disclosure of a $152,500 restriction of retaingd eamings foc plant expansion (Use Note A.) (3) Youir answer hasbeensaved See score detalls after the doe date. Reproduce the Retained Earnings account for the year. Prepare the stockholders' eauitv section of the balance sheet at Derember 31 The ledger ol Ayayal Corp. at December 31. 2022 after the books have been closed contains the following stockholders fquity accounts. A review of the accounting records reveals this information: 1. Preferred stockis 876,5103 par value, noncumulathe. Since danuary 1, 2021, 12.200 shares have been outstanding 24,400 shares are authorized. 2. Common stock is no-par with a stated value of $6 per share: 624,000 shares are authorized. 3. The Jamary 1, 2022 balance in Retained Earnings was 52,292.000. 4. On October 1, 65,500 chares of comenon stock were sold for cash at $9 per share. 5. A eash dividend of $392.000 was declared and properly allocated to preferred and common stock on November 1 . No dividends were paid to preferred stociholders in 2021 6. Net income for the year was $853,000. 7. On December 31,2022 , the directors authorized disclosure of a $152,500 restriction of retaingd eamings foc plant expansion (Use Note A.) (3) Youir answer hasbeensaved See score detalls after the doe date. Reproduce the Retained Earnings account for the year. Prepare the stockholders' eauitv section of the balance sheet at Derember 31 Step by Step Solution
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