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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 2,500
Using the following accounts and balances, prepare the stockholders' equity section of the balance sheet. Fifty thousand shares of common stock are authorized, and 2,500 shares have been reacquired. $1,170,000 Common Stock, $30 par Paid-In Capital in Excess of Par 123,030 Paid-In Capital from Sale of Treasury Stock 6,030 Retained Earnings 114,000 Treasury Stock 4,530 Stockholders' Equity Contributed capital: Common stock, $30 par (50,000 shares authorized, 39,000 issued 1,170,000 Additional paid-in capital 330,000 1,299,060 X Total contributed capital Retained earnings 114,000 Total Treasury stock 6,030 X Total stockholders' equity
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