Question
On October 10, the stockholders equity of Sherman Systems appears as follows. Common stock$10 par value, 75,000 shares authorized, issued, and outstanding $ 750,000 Paid-in
On October 10, the stockholders equity of Sherman Systems appears as follows.
| Common stock$10 par value, 75,000 shares authorized, issued, and outstanding | $ | 750,000 | |
| Paid-in capital in excess of par value, common stock | 231,000 | ||
| Retained earnings | 888,000 | ||
| Total stockholders equity | $ | 1,869,000 | |
Prepare the stockholders' equity section after the October 11 treasury stock purchase.
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Financial Accounting Tools for Business Decision Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine
6th Canadian edition
1118644948, 978-1118805084, 1118805089, 978-1118644942
