The Paid-in Capital in Excess of Par ValuePreferred Stock account would be shown in the

Assets section of the balance sheet.

Stockholders' Equity section of the balance sheet.

Revenue section of the income statement.

Expense section of the income statement.

Which of the following statements is not correct?

Retained earnings represents a cash fund.

A corporation can have a large cash balance but no retained earnings.

A corporation can have a balance in the Retained Earnings account but no cash.

Retained earnings represent the undistributed profits and losses of the corporation