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The following stockholders equity accounts, arranged alphabetically, are in the ledger of Telex Inc. on December 31, 2017. Common Stock ($20 par value) $900,000 Paid-in
The following stockholders equity accounts, arranged alphabetically, are in the ledger of Telex Inc. on December 31, 2017.
Common Stock ($20 par value) $900,000
Paid-in Capital in Excess of Par Value-Common Stock 190,000
Preferred Stock (10%, $50 par) 100,000
Paid-in Capital in Excess of Par-Preferred Stock 10,000
Paid in Capital from Treasury Stock 2,000
Retained Earnings 350,000
Treasury Stock (600 common shares) 27,000
Instructions
Prepare the stockholders equity section of the balance sheet on December 31, 2017.
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