The financial statements of Royal Employment Services, Inc., reported the following accounts (adapted, with dollar amounts in
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Paid-in capital in excess of par...............................$ 207
Other stockholders' equity (negative)..........................(27)
Common stock, $0.01 par, 900,000 shares issued..............9
Long-term debt....................................................23
Total revenues.................................................$1,450
Accounts payable................................................460
Retained earnings................................................643
Other current liabilities.......................................2,562
Total expenses...................................................836
Prepare the stockholders' equity section of Royal's balance sheet. Net income has already been closed to Retained Earnings.
Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
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Financial Accounting
ISBN: 978-0134127620
11th edition
Authors: Walter Harrison, Charles Horngren, William Thomas, Wendy Tietz
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