Please fix the error on the balance sheet. Please show work and formulas. The drop down options are....
additional paid in capital
bonda payable
cash
common stock
dividends payable
preferred stock
premium on bonds payable
retained earnings
treasury stock
P11-5 (Algo) Preparing the Stockholders' Equity Section after Selected Transactions LO11-1, 11-3, 11-7 United Resources Company obtained a charter from the state in January of this year. The charter authorized 208,000 shares of common stock with a par value of $3. During the year, the company earned $486,000 Also during the year, the following selected transactions occurred in the order given: a. Sold 83,000 shares of the common stock in an initial public offering for $13 per share. b. Repurchased 26,000 shares of the previously issued shares for $16 per share. c. Resold 8,000 shares of treasury stock for $19 per share. Required: Prepare the stockholders' equity section of the balance sheet at the end of the year. (Amounts to be deducted should be indicated with a minus sign.) UNITED RESOURCES COMPANY Balance Sheet (Partial) At December 31, This year Stockholders' equity: Contributed capital: $ 249,000 Common stock Additional paid-in capital 249,000 Total contributed capital Retained earnings 486,000 735,000 Total contributed capital and retained earnings Treasury stock (288,000) 447,000 Total stockholders' equity $ United Resources Company obtained a charter from the state in January of this year. The charter common stock with a par value of $3. During the year, the company earned $486,000 Also during transactions occurred in the order given: a. Sold 83,000 shares of the common stock in an initial public offering for $13 per share. b. Repurchased 26,000 shares of the previously issued shares for $16 per share. c. Resold 8,000 shares of treasury stock for $19 per share. Required: Prepare the stockholders' equity section of the balance sheet at the end of the year. (Amounts to b with a minus sign.) X Answer is not complete. UNITED RESOURCES COMPANY Balance Sheet (Partial) At December 31, This year Stockholders' equity: Contributed capital: Common stock $ 249,000 Additional paid-in capital 830,000 X Additional paid-in capital 24,000 Total contributed capital Retained earnings 486,000 o 1,103,000 Total contributed capital and retained earnings Treasury stock 1,589,000 288,000 X Total stockholders' equity 1,877,000 Ac Yi Se here to search
