Stockholders Equity: Transactions and Balance Sheet Presentation

The stockholders equity accounts of Cooper Corporation at January 1 follow:

Common stock, $1 par value, 350,000 shares authorized;
150,000 shares issued and outstanding	$150,000
Paid-in capital in excess of par value (common stock)	600,000
Retained earnings	366,000

During the year, the following transactions occurred:

Jan.	5	Issued 20,000 shares of common stock for $15 cash per share.
	18	Purchased 4,000 shares of common stock as treasury stock at $14 cash per share.
Mar.	12	Sold one-fourth of the treasury shares acquired January 18 for $17 per share.
July	17	Sold 600 shares of the remaining treasury stock for $12 per share.
Oct.	1	Issued 5,000 shares of eight percent, $25 par value preferred stock for $35 cash per share.
		These are the first preferred shares issued out of 50,000 authorized shares.
Dec.	31	Closed the net income of $170,000 to the Retained Earnings account.

• Prepare the December 31 stockholders equity section of the balance sheet.
• o not use negative signs with your answers.

  Stockholders' Equity
  	Paid in Capital
  	AnswerPreferred StockCommon StockRetained EarningsTotal Stockholders' EquityTotal Paid-in-CapitalLess: Treasury Stock - Common	Answer
  	AnswerPreferred StockCommon StockRetained EarningsTotal Stockholders' EquityTotal Paid-in-CapitalPaid-in-Capital from Treasury StockLess: Treasury Stock - Common	Answer	Answer
  	Additional Paid-in-Capital
  	Paid-in-Capital in Excess of Par value -Preferred Stock	Answer
  	Paid-in-Capital in Excess of Par value - Common Stock	Answer
  	AnswerPreferred StockCommon StockRetained EarningsTotal Stockholders' EquityTotal Paid-in-CapitalPaid-in-Capital from Treasury StockLess: Treasury Stock - Common	Answer	Answer
  	Total Paid-in-Capital		Answer
  	AnswerPreferred StockCommon StockRetained EarningsTotal Stockholders' EquityTotal Paid-in-CapitalPaid-in-Capital from Treasury StockLess: Treasury Stock - Common		Answer
  			Answer
  	AnswerPreferred StockCommon StockRetained EarningsTotal Stockholders' EquityTotal Paid-in-CapitalPaid-in-Capital from Treasury StockLess: Treasury Stock - Common		Answer
  	AnswerPreferred StockCommon StockRetained EarningsTotal Stockholders' EquityTotal Paid-in-CapitalPaid-in-Capital from Treasury StockLess: Treasury Stock - Common		Answer