Using the following accounts and balances, prepare the Stockholders Equity section of the balance sheet. Seventy thousand

Question:

Using the following accounts and balances, prepare the Stockholders’ Equity section of the balance sheet. Seventy thousand shares of common stock are authorized, and 7,500 shares have been reacquired.

Common Stock, $75 par $4,725,000

Paid-In Capital in Excess of Par 679,000

Paid-In Capital from Sale of Treasury Stock 25,200

Retained Earnings 2,032,800

Treasury Stock 588,000

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...