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The following accounts and their balances appear in the ledger of Goodale Properties Inc. on June 30 of the current year: Common Stock, $15 par
The following accounts and their balances appear in the ledger of Goodale Properties Inc. on June 30 of the current year:
Common Stock, $15 par | $153,000 |
Paid-In Capital in Excess of Par | 12,240 |
Paid-In Capital from Sale of Treasury Stock | 6,600 |
Retained Earnings | 253,000 |
Treasury Stock | 9,500 |
Prepare the Stockholders' Equity section of the balance sheet as of June 30. Fifty thousand shares of common stock are authorized, and 500 shares have been reacquired.
Goodale Properties Inc. | |||
Stockholders' Equity | |||
June 30, 20XX | |||
Paid-In Capital: | |||
Common Stock, $15 Par (50,000 Shares Authorized, 10,200 Shares Issued) | $ | ||
Excess of Issue Price Over Par | |||
Paid-in capital, common stock | $ | ||
From Sale of Treasury Stock | |||
Total Paid-In Capital | $ | ||
Retained Earnings | |||
Total | $ | ||
Treasury Stock (500 Shares at Cost) | |||
Total Stockholders' Equity | $ |
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