Skysong, Inc. has the following accounts at December 31: Common Stock, $10 par,

Question

Skysong, Inc. has the following accounts at December 31: Common Stock, $10 par, 5,300 shares issued, $53,000; Paid-in Capital in Excess of Par-Common Stock $31,300; Retained Earnings $47,500; and Treasury Stock, 500 shares, $10,500 Prepare the stockholders' equity section of the balance sheet. (Enter the account name only and do not provide the descriptive information provided in the question.) Skysong, Inc. Balance Sheet (Partial) r 31 Paid-in Capital Capital Stock Paid-in Capital in Excess of Par-Common Stock 53,000 Additional Paid-in Capital Retained Earnings Total Paid-in Capital Retained Earnings Total Paid-in Capital and Retained Earnings Less . |Treasury Stock Total Stockholders' Equity

Explanation / Answer

Skysong, Inc.

Balance sheet (partial)

December 31.

Common Stock $ 53,000 Additional Paid-in Capital $ 31,300 Total Paid-in Capital $ 84,000 Retained Earnings $ 47,500 Total Paid-in Capital & Retained Earnings $131,800 Less : Treasury stock $ 10,500 Total Stockholders' Equity $121,300

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