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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.
Common Stock, $70 par | $2,520,000 |
Paid-In Capital in Excess of Par | 216,000 |
Paid in Capital from Sale of Treasury Stock | 6,070 |
Retained Earnings | 143,000 |
Treasury Stock | 4,570 |
Stockholders' Equity | ||
Paid-in capital | ||
Common stock, $70 par (50,000 shares authorized, 36,000 issued) | $ | |
Excess of issue price over par | $ | |
From sale of treasury stock | ||
Total paid-in capital | $ | |
Retained earnings | ||
Total | $ | |
Treasury stock (2,500 shares at cost) | ||
Total stockholders' equity | $ |
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