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Using the following accounts and balances, prepare the Stockholders' Equity section of the balance sheet. There are 50,000 shares of common stock authorized, and 2,000
Using the following accounts and balances, prepare the Stockholders' Equity section of the balance sheet. There are 50,000 shares of common stock authorized, and 2,000 shares have been reacquired.
Common Stock, $40 par | $1,600,000 | |
Paid-In Capital from Sale of Treasury Stock | 48,000 | |
Paid-In Capital in Excess of ParCommon Stock | 200,000 | |
Retained Earnings | 944,000 | |
Treasury Stock | 22,000 |
Stockholders' Equity | ||
Paid-In Capital: | ||
Common Stock, $40 Par (50,000 Shares Authorized, 2,000 Shares Issued) | $ | |
Excess of Issue Price Over Par | ||
Paid-in capital, common stock | $ | |
From Sale of Treasury Stock | ||
Total Paid-in Capital | $ | |
Retained Earnings | ||
Total | $ | |
Treasury Stock | ||
Total Stockholders' Equity | $ |
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