The following stockholders equity accounts, arranged alphabetically, are in the ledger of Patel Corporation at December 31,

Question:

The following stockholders’ equity accounts, arranged alphabetically, are in the ledger of Patel at December 31, 2012.
Common Stock ($2 stated value) ..................$1,600,000
Paid-in Capital in Excess of Par Value—Preferred Stock ...........45,000
Paid-in Capital in Excess of Stated Value—Common Stock ..........1,050,000
Preferred Stock (8%, $100 par, noncumulative) ..............600,000
Retained Earnings .........................1,334,000
Treasury Stock—Common (12,000 shares) .................72,000
Instructions
Prepare the stockholders’ equity section of the at December 31, 2012.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial... Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...