Question
Prepare a stockholder's equity section of the balance sheetin proper format using the following information. (Remember treasury stock is common stock)Properly show all APIC accounts
Prepare a stockholder's equity section of the balance sheetin proper format using the following information. (Remember treasury stock is common stock)Properly show all APIC accounts and use proper format. Clearly show which numbers go on the left side and which ones go on the right side. Show all work
Studley Inc. was organized and authorized to issue 10,000 shares of $100 par value, 5% percent preferred stock, and 150,000 shares of $1 par value common stock on September 1st, 2019
a.Issued 2,000 shares of preferred stock
b.APIC - preferred 15,000
c.Issued 58,000 shares of common stock
d.APIC - Common 154,000
e.APIC - Treasury 15,750
e.Had 3,000 shares of treasury stock at a cost of 39,000
f.Retained earnings had a balance of 16,500
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