(I used question marks for the spaces that need to be answered) Instructions The

Question

(I used question marks for the spaces that need to be answered)

Instructions The following accounts and their balances appear in the ledger of Goodale Properties Inc. on June 30 of the current year: 1Common Stock, $45 par 2Paid-In Capital from Sale of Treasury Stock 3 Paid-ln Capital in Excess of Par-Common Stock 4 Retained Earnings 5Treasury Stock $3,060,000.00 115,000.00 272,000.00 0,553,000.00 324,000.00 Prepare the Stockholders' Equity section of the balance sheet as of June 30. Eighty thousand shares of common stock are authorized, and 9,000 shares have been reacquired. Refer to the lists of Accounts and Amount Descriptions provided for automatically appear if required

Explanation / Answer

Goodale Properties Inc. Stockholders Equity June 30, 20XX 1 Paid in Capital 2 Common stock $45 par , 80000 shares aurhorised, 68000 issued 30,60,000.00 3 Excess of issue price over par     2,72,000.00            33,32,000.00 4 From sale of treasury stock              1,15,000.00 5 Total Paid in capital              34,47,000.00 6 Retained earnings          2,05,53,000.00 7 Total Contributed Capital          2,40,00,000.00 8 Less : Treasury stock,9000 shares at cost                3,24,000.00 9 Total stockhoders equity          2,36,76,000.00

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