United Resources Company obtained a charter from the state in January 2011, which authorized 200,000 shares of common stock , $1 par value During the first year, the company earned $475,000 and the following selected transactions occurred in the order given a Sold 100,000 shares of the common stock...

Stockholders Equity Contributed capital Common stock par 1 authorize ...

United Resources Company obtained a charter from the state in January 2011, which authorized 200,000 shares of

Question:

United Resources Company obtained a charter from the state in January 2011, which authorized 200,000 shares of , $1 par value. During the first year, the company earned $475,000 and the following selected transactions occurred in the order given:
a. Sold 100,000 shares of the in an initial public offering at $12 per share.
b. Repurchased 20,000 shares of the previously issued shares at $15 cash per share for treasury stock.
c. Resold 5,000 of the shares of the treasury stock at $18 cash per share.
Required:
Prepare the stockholders’ equity section of the at December 31, 2011.

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... 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...