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

Question:

The following stockholders’ equity accounts, arranged alphabetically, are in the ledger of Freeze Corporation at December 31, 2010.

Common Stock ($5 stated value) ............ $1,700,000

Paid-in Capital in Excess of Par Value-Preferred Stock ..... 280,000

Paid-in Capital in Excess of Stated Value-Common Stock ... 900,000

Preferred Stock (8%, $100 par, noncumulative) ......... 500,000

Retained Earnings .................. 1,134,000

Treasury Stock-Common (10,000 shares) ......... 120,000

Instructions

Prepare the stockholders’ equity section of the balance sheet at December 31, 2010.

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...