Item5 1 66 points Item Skipped eBookHintPrintReferencesCheck my workCheck My Work button is now enabled3Item 5 Exercise 10 7B Prepare the stockholders' equity section (LO10 7) A company has two classes of stock authorized 7 , $10 par preferred, and $1 par value common The following transactions affect stockholders' equity during Year 1, its first year of operations January 2 Issues 100,000 shares of common stock for $18 per share February 6 Issues 1,300 shares of 7 preferred stock for $13 per share September 10 Purchases 12,000 shares of its own common stock for $23 per share December 15 Resells 6,000 shares of treasury stock at $28 per share In its first year of operations, the company has net income of $143,000 and pays dividends at the end of the year of $94,000 ($1 per share) on all common shares outstanding and $910 on all preferred shares outstanding Required Prepare the stockholders' equity section of the balance sheet for the company as of December 31, Year 1 (Amounts to be deducted should be indicated by a minus sign ) Exercise 10 7B Prepare the stockholders' equity section (LO10 7) A company has two classes of stock authorized 7 , $10 par preferred, and $1 par value common The following transactions affect stockholders' equity during Year 1, its first year of operations January 2 Issues 100,000 shares of common stock for $18 per share February 6 Issues 1,300 shares of 7 preferred stock for $13 per share September 10 Purchases 12,000 shares of its own common stock for $23 per share December 15 Resells 6,000 shares of treasury stock at $28 per share In its first year of operations, the company has net income of $143,000 and pays dividends at the end of the year of $94,000 ($1 per share) on all common shares outstanding and $910 on all preferred shares outstanding Required Prepare the stockholders' equity section of the balance sheet for the company as of December 31, Year 1 (Amounts to be deducted should be indicated by a minus sign ) Balance Sheet (Stockholders' Equity Section) December 31, Year 1 Stockholders' equity Total paid in capital Total stockholders' equity $ 0 0

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Item5 1.66 points Item Skipped eBookHintPrintReferencesCheck my workCheck My Work button is now enabled3Item 5 Exercise 10-7B Prepare the stockholders' equity section (LO10-7) A company

Item5 1.66 points Item Skipped eBookHintPrintReferencesCheck my workCheck My Work button is now enabled3Item 5 Exercise 10-7B Prepare the stockholders' equity section (LO10-7) A company has two classes of stock authorized: 7%, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during Year 1, its first year of operations: January 2 Issues 100,000 shares of common stock for $18 per share. February 6 Issues 1,300 shares of 7% preferred stock for $13 per share. September 10 Purchases 12,000 shares of its own common stock for $23 per share. December 15 Resells 6,000 shares of treasury stock at $28 per share. In its first year of operations, the company has net income of $143,000 and pays dividends at the end of the year of $94,000 ($1 per share) on all common shares outstanding and $910 on all preferred shares outstanding. Required: Prepare the stockholders' equity section of the balance sheet for the company as of December 31, Year 1. (Amounts to be deducted should be indicated by a minus sign.)

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Exercise 10-7B Prepare the stockholders' equity section (LO10-7) A company has two classes of stock authorized: 7%, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during Year 1, its first year of operations: January 2 Issues 100,000 shares of common stock for $18 per share. February 6 Issues 1,300 shares of 7% preferred stock for $13 per share. September 10 Purchases 12,000 shares of its own common stock for $23 per share. December 15 Resells 6,000 shares of treasury stock at $28 per share. In its first year of operations, the company has net income of $143,000 and pays dividends at the end of the year of $94,000 ($1 per share) on all common shares outstanding and $910 on all preferred shares outstanding. Required: Prepare the stockholders' equity section of the balance sheet for the company as of December 31, Year 1. (Amounts to be deducted should be indicated by a minus sign.) Balance Sheet (Stockholders' Equity Section) December 31, Year 1 Stockholders' equity: Total paid-in capital Total stockholders' equity $ 0 0