Question
Using the following accounts and balances, prepare the Stockholders Equity section of the balance sheet. Refer to the lists of Accounts and Amount Descriptions provided
Using the following accounts and balances, prepare the Stockholders Equity section of the balance sheet. Refer to the lists of Accounts and Amount Descriptions provided for the exact wording of the answer choices for text entries.
Two hundred fifty thousand shares of common stock are authorized, and 19,800 shares have been reacquired.
Common Stock, $60par | $11,400,000 |
Paid-In Capital from Sale of Treasury Stock | 313,000 |
Paid-In Capital in Excess of ParCommon Stock | 3,280,000 |
Retained Earnings | 18,940,000 |
Treasury Stock | 1,287,000 |
Accounts and Amount Descriptions | |
Common stock, $60 par (250,000 shares authorized, 182,500 shares issued) | |
Common stock, $60 par (250,000 shares authorized, 190,000 shares issued) | |
Dividends on common stock | |
Excess of issue price over par | |
From sale of treasury stock | |
Issuance of additional common stock | |
Net income | |
Paid-in capital, common stock | |
Purchase of treasury stock | |
Retained earnings | |
Total | |
Total paid-in capital | |
Total stockholders equity | |
Treasury stock (19,800 shares at cost) |
Prepare the Stockholders Equity section of the balance sheet. Refer to the lists of Accounts and Amount Descriptions provided for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtracted or negative numbers use a minus sign.
1 | Paid-in capital: |
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2 | Common stock, $60 par (250,000 shares authorized, 190,000 shares issued) | $11400000 |
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3 | Paid-in capital, common stock | $3280000 |
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