Question
PLEASE ANSWER FOR THE BALANCE SHEET. THANK YOU!!! Concord Corporation had the following stockholders equity accounts on January 1, 2022: Common Stock ($ 5 par)
PLEASE ANSWER FOR THE BALANCE SHEET. THANK YOU!!!
Concord Corporation had the following stockholders equity accounts on January 1, 2022: Common Stock ($ 5 par) $ 500,000, Paid-in Capital in Excess of ParCommon Stock $ 190,000, and Retained Earnings $ 110,000. In 2022, the company had the following treasury stock transactions.
| Mar. | 1 | Purchased 6,000 shares at $ 9 per share. | |
| June | 1 | Sold 1,500 shares at $ 12 per share. | |
| Sept. | 1 | Sold 1,500 shares at $ 11 per share. | |
| Dec. | 1 | Sold 1,500 shares at $ 7 per share. |
Concord Corporation uses the cost method of accounting for treasury stock. In 2022, the company reported net income of $ 27,000.
Prepare the stockholders equity section for Concord Corporation at December 31, 2022. (Enter the account name only and do not provide the descriptive information provided in the question.)
| CONCORD CORPORATION Balance Sheet (Partial) choose the accounting period For the Year Ended December 31, 2022December 31, 2022For the Quarter Ended December 31, 2022 | ||||||
|---|---|---|---|---|---|---|
| select an opening section name Additional Paid-in CapitalCapital StockCurrent AssetsCurrent LiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesNet Income / (Loss)Paid-in CapitalProperty, Plant and EquipmentRevenuesStockholders' EquityTotal Additional Paid-in CapitalTotal AssetsTotal Capital StockTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Property, Plant and EquipmentTotal RevenuesTotal Stockholders' Equity | ||||||
| select an opening subsection name Additional Paid-in CapitalCapital StockCurrent AssetsCurrent LiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesNet Income / (Loss)Paid-in CapitalProperty, Plant and EquipmentRevenuesStockholders' EquityTotal Additional Paid-in CapitalTotal AssetsTotal Capital StockTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Property, Plant and EquipmentTotal RevenuesTotal Stockholders' Equity | ||||||
| select an opening name of subordinate part one of this subsection Additional Paid-in CapitalCapital StockCurrent AssetsCurrent LiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesNet Income / (Loss)Paid-in CapitalProperty, Plant and EquipmentRevenuesStockholders' EquityTotal Additional Paid-in CapitalTotal AssetsTotal Capital StockTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Property, Plant and EquipmentTotal RevenuesTotal Stockholders' Equity | ||||||
| enter a balance sheet item | $ enter a dollar amount | |||||
| select an opening name of subordinate part two of this subsection Additional Paid-in CapitalCapital StockCurrent AssetsCurrent LiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesNet Income / (Loss)Paid-in CapitalProperty, Plant and EquipmentRevenuesStockholders' EquityTotal Additional Paid-in CapitalTotal AssetsTotal Capital StockTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Property, Plant and EquipmentTotal RevenuesTotal Stockholders' Equity | ||||||
| enter a balance sheet item | $ enter a dollar amount | |||||
| enter a balance sheet item | enter a dollar amount | |||||
| select a closing name of subordinate part two of this subsection Additional Paid-in CapitalCapital StockCurrent AssetsCurrent LiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesNet Income / (Loss)Paid-in CapitalProperty, Plant and EquipmentRevenuesStockholders' EquityTotal Additional Paid-in CapitalTotal AssetsTotal Capital StockTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Property, Plant and EquipmentTotal RevenuesTotal Stockholders' Equity | enter a subtotal of the two previous amounts | |||||
| select a closing subsection name Additional Paid-in CapitalCapital StockCurrent AssetsCurrent LiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesNet Income / (Loss)Paid-in CapitalProperty, Plant and EquipmentRevenuesStockholders' EquityTotal Additional Paid-in CapitalTotal AssetsTotal Capital StockTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Property, Plant and EquipmentTotal RevenuesTotal Stockholders' Equity | enter a total amount for this subsection | |||||
| enter a balance sheet item | enter a dollar amount | |||||
| select a summarizing line for this part of the statement Additional Paid-in CapitalCapital StockCurrent AssetsCurrent LiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesNet Income / (Loss)Paid-in CapitalProperty, Plant and EquipmentRevenuesStockholders' EquityTotal Additional Paid-in CapitalTotal AssetsTotal Capital StockTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Property, Plant and EquipmentTotal RevenuesTotal Stockholders' Equity | enter a subtotal amount for this part of the statement | |||||
| select between addition and deduction AddLess: enter a balance sheet item | enter a dollar amount | |||||
| select a closing section name Additional Paid-in CapitalCapital StockCurrent AssetsCurrent LiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesNet Income / (Loss)Paid-in CapitalProperty, Plant and EquipmentRevenuesStockholders' EquityTotal Additional Paid-in CapitalTotal AssetsTotal Capital StockTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Property, Plant and EquipmentTotal RevenuesTotal Stockholders' Equity | $ enter a total amount for this section | |||||
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Financial Accounting
Authors: Belverd E. Needles
5th Edition
0395698022, 978-0395698020
