Question
Reporting stockholders equity Instructions Accounts and Amount Descriptions Stockholders Equity Instructions Using the following accounts and balances, prepare the Stockholders Equity section of the balance
Reporting stockholders equity
Instructions
Accounts and Amount Descriptions
Stockholders Equity
Instructions
Using the following accounts and balances, prepare the Stockholders Equity section of the balance sheet. Refer to the lists of Accounts and Amount Descriptions provided for the exact wording of the answer choices for text entries.
Five-hundred thousand shares of common stock are authorized, and 40,000 shares have been reacquired.
Common Stock, $120 par | $48,000,000 |
Paid-In Capital from Sale of Treasury Stock | 4,500,000 |
Paid-In Capital in Excess of ParCommon Stock | 6,400,000 |
Retained Earnings | 63,680,000 |
Treasury Stock | 5,200,000 |
Accounts and Amount Descriptions
Accounts and Amount Descriptions | |
Common stock, $120 par (500,000 shares authorized, 360,000 shares issued) | |
Common stock, $120 par (500,000 shares authorized, 400,000 shares issued) | |
Dividends on common stock | |
Excess of issue price over par | |
From sale of treasury stock | |
Issuance of additional common stock | |
Net income | |
Paid-in capital, common stock | |
Purchase of treasury stock | |
Retained earnings | |
Total | |
Total paid-in capital | |
Total stockholders equity | |
Treasury stock (40,000 shares at cost) |
Stockholders Equity
Using the accounts and balances on the Instructions panel, prepare the Stockholders Equity section of the balance sheet. Refer to the lists of Accounts and Amount Descriptions provided for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtracted or negative numbers use a minus sign.
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Stockholders Equity |
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1 | Paid-in capital: |
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Please answer questions by filling in the blanks provided. |
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