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The following accounts appear in the ledger of Aston Corporation after the books are closed at December 31, 2008. Common Stock, $1 par value, 500,000
The following accounts appear in the ledger of Aston Corporation after the books are closed at December 31, 2008. Common Stock, $1 par value, 500,000 shares authorized, 400,000 shares issued ....................................................................................$400,000 Paid-in Capital in Excess of Par ValueCommon Stock ..........................650,000 Preferred Stock, $100 par value, 8%, 10,000 shares authorized; 2,000 shares issued ......................................................................................200,000 Retained Earnings .......................................................................950,000 Treasury Stock (10,000 common shares) .............................................85,000 Paid-in Capital in Excess of Par ValuePreferred Stock .........................310,000 Required: Prepare the stockholders' equity section at December 31, 2008
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