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Using the following accounts and balances, prepare the Stockholders' Equity section of the balance sheet using Method 1 (separating sources of additional paid-in capital). Fifty
Using the following accounts and balances, prepare the Stockholders' Equity section of the balance sheet using Method 1 (separating sources of additional paid-in capital). Fifty thousand shares of common stock are authorized, and 4,500 shares have been reacquired.
Common Stock, $60 par | $1,980,000 |
Paid-In Capital in Excess of Par | 132,000 |
Paid in Capital from Sale of Treasury Stock | 6,060 |
Retained Earnings | 132,000 |
Treasury Stock | 4,560 |
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