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Stockholders' Equity section of balance sheet Specialty Auto Racing Inc. retails racing products for BMWs , Porsches, and Ferraris. The following accounts and their balances
"Stockholders' Equity" section of balance sheet
Specialty Auto Racing Inc. retails racing products for BMWs Porsches, and Ferraris. The following accounts and their
balances appear in the ledger of Specialty Auto Racing on July the end of the current year:
Common Stock, $ par
$
PaidIn Capital from Sale of Treasury StockCommon
PaidIn Capital in Excess of ParCommon Stock
PaidIn Capital in Excess of ParPreferred Stock
Preferred Stock, $ par
Retained Earnings
Treasury StockCommon
Stock shares authorized are: preferred stock, shares; common stock, shares. There are shares
of common stock held as treasury stock.
Prepare the "Stockholders' Equity" section of the balance sheet as of July the end of the current year using Method
of Exhibit
Specialty Auto Racing Inc:
Stockholders' Equity
July
Line Item Description
PaidIn Capital:
Preferred Stock, $ Par Shares Authorized, Shares Issued
Excess of Issue Price Over Par
Paidin capital, preferred stock
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