Question
Stockholders' EquitySection of Balance Sheet The following accounts and their balances appear in the ledger of Young Properties Inc. on November 30 of the current
Stockholders' EquitySection of Balance Sheet
The following accounts and their balances appear in the ledger of Young Properties Inc. on November 30 of the current year:
Common Stock, $15 par $204,000
Paid-In Capital in Excess of Par 16,320
Paid-In Capital from Sale of Treasury Stock 8,800
Retained Earnings 337,000
Treasury Stock12,635
Prepare the Stockholders' Equity section of the balance sheet as of November 30. Fifty thousand shares ofcommon stockare authorized, and 665 shares have been reacquired.
Young Properties Inc.
Stockholders' Equity Section of the Balance Sheet November 30
Young Properties Inc.Stockholders' Equity Section of the Balance SheetNovember 30
Paid-In Capital:
Common stock, $15 par (50,000 shares authorized, 13,600 shares issued)
$____________
Additional paid-in capital in excess of par
$____________
Paid-in capital from treasury stock
$_________________
Total paid-in capital
$______________
Retained Earnings
$________________________
Total
$______________
Deduct Treasury stock (665 shares at cost)
$______________
Total Stockholders' Equity
$______________
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