Stockholders\' Equity Section of Balance Sheet The following accounts and their

Question

Stockholders' Equity Section of Balance Sheet The following accounts and their balances appear in the ledger of Goodale Properties ?nc. on June 30 of the current year: Common Stock, $15 par Paid-In Capital in Excess of Par Paid-In Capital from Sale of Treasury Stock Retained Earnings Treasury Stock Prepare the Stockholders' Equity section of the balance sheet as of June 30. Fifty thousand shares of common stock are authorized, and 530 shares have been reacquired $162,000 12,960 7,000 267,000 10,070

Explanation / Answer

Stockholders' Equity June 30, 20XX Paid in Capital: Common stock $15 par 1,62,000 Paid in Capital in excess of par-Common      12,960 Total common capital 1,74,960 Paid-in Capital from Treasury Stock         7,000 Total paid in capital 1,81,960 Retained Earnings 2,67,000 Total paid in capital and retained earnings 4,48,960 Treasury stock      10,070 Total stockholders' Equity 4,59,030

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