Question
Prepare the stockholders equity section of the balance sheet? Prince Inc.s Charter authorizes 700,000 shares. To date, 400,000 shares of $4 par common stock have
Prepare the stockholders equity section of the balance sheet?
Prince Inc.s Charter authorizes 700,000 shares.
To date, 400,000 shares of $4 par common stock have been issues.
The paid-in capital in excess of par value on the common stock is $680,000.
The corporation has reacquired 20,000 shares at a cost of $50,000.
It also had a cumulative other comprehensive loss of $130,000. The corporation also has 5,000 shares issued and outstanding of 6%, $100 par preferred stock. It is authorized to issue 10,000 shares. The paid-in capital in excess of par on the preferred stock is $80,000. Retained earnings is $930,000.
Prepare the stockholders equity section of the balance sheet.
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