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E11-7 (Algo) Reporting Stockholders' Equity LO11-1, 11-3, 11-7

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Williamson Corporation was organized to operate a tax preparation business. The charter authorized the following stock: common stock, $9 par value, 95,000 shares authorized. During the first year, the following selected transactions were completed:

1. Sold 56,000 shares of common stock for cash at $50 per share.
2. Repurchased 1,000 shares at $52 per share.

E11-7 Part 2

2. Prepare the stockholders' equity section of the balance sheet at the end of the year. Assume retained earnings at the end of the year was $200,000.

Note: Amounts to be deducted should be indicated with a minus sign.

WILLIAMSON CORPORATION Balance Sheet (Partial) At End of This Year \begin{tabular}{|l|l|l|} \hline Stockholders' equity: & & \\ \hline Contributed capital: & & \\ \hline & & \\ \hline & & \\ \hline Total contributed capital & & \\ \hline & & \\ \hline & & \\ \hline Total stockholders' equity & & $ \\ \hline \end{tabular}