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Concord Company reports the following for the month of June. Unit Units Cost Total Cost June 1 Inventory 250 $7 $1,750 12 Purchase 430 8 3,440 23 Purchase 320 2,880 30 Inventory 100 Will the results in (a) be higher or lower than the results under FIFO and LIFO? Ending inventory is lower than FIFO $ and In contrast, cost of goods sold is than FIFO $ and than LIFO $ than LIFO $ On January 1, 2022, the stockholders' equity section of Riverbed Corporation shows common stock ($5 par value) $1,500,000; paid-in capital in excess of par $1,010,000; and retained earnings $1,230,000. During the year, the following treasury stock transactions occurred. Mar. 1 Purchased 51,000 shares for cash at $15 per share. July 1 Sold 10,000 treasury shares for cash at $17 per share. Sept. 1 Sold 8,500 treasury shares for cash at $14 per share. (a) Journalize the treasury stock transactions. (List all debit entries before credit entries. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit 11 I Credit The following stockholders' equity accounts, arranged alphabetically, are in the ledger of Concord Corporation at December 31, 2022. Common Stock ($5 stated value) $1,680,000 280,000 Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock 941,000 Preferred Stock (8%, $103 par) 566,500 Retained Earnings 1,120,000 Treasury Stock (10,500 common shares) 126,000 Prepare the stockholders' equity section of the balance sheet at December 31, 2022. (Enter the account name only and do not. provide the descriptive information provided in the question.) CONCORD CORPORATION Partial Balance Sheet + Prepare the stockholders' equity section of the balance sheet at December 31, 2022. (Enter the account name only and do not provide the descriptive information provided in the question.) CONCORD CORPORATION Partial Balance Sheet $ # $ ||||||| LA 4 LA
