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Using the following accounts and balances, prepare the Stockholders' equity section of the balance sheet. Fifty thousand shares of common stock are authorized, and 5,000
Using the following accounts and balances, prepare the Stockholders' equity section of the balance sheet. Fifty thousand shares of common stock are authorized, and 5,000 shares have been reacquired. Common Stock, $50 par $2,000,000 Paid-In Capital in Excess of Par 200,000 Paid in Capital from Sale of Treasury Stock 6,050 Retained Earnings 178,000 Treasury Stock 4,550 Stockholders' Equity Paid-in capital Common stock, $50 par (50,000 shares authorized, 40,000 issued) 2,000,000 Excess of issue price over par 200,000 From sale of treasury stock Total paid-in capital Retained earnings Total Treasury stock (5,000 shares at cost) Total stockholders' equity 330000 4,550 2,204,550
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