Using the following accounts and balances, prepare the Stockholders’ Equity sect
ID: 2577318 • Letter: U
Question
Using the following accounts and balances, prepare the Stockholders’ Equity section of the balance sheet. Refer to the lists of Accounts and Amount Descriptions provided for the exact wording of the answer choices for text entries.
Two hundred fifty thousand shares of common stock are authorized, and 17,600 shares have been reacquired.
Common Stock, $55 par $11,770,000 Paid-In Capital from Sale of Treasury Stock 343,000 Paid-In Capital in Excess of Par—Common Stock 3,340,000 Retained Earnings 18,650,000 Treasury Stock 1,144,000Explanation / Answer
Stockholder's Equity Paid-in - capital common stock ,$55 par ,250,000 authorized ,214000 shares 11,770,000 issued ,196,400 issued paid in capital in excess of par-common 3,340,000 paid in capital from treasury stock 343,000 total paid in capital 15,453,000 retained earnings 18,650,000 total paid in capital & retained earnings 34,103,000 less:Treasury stock at cost (17600 shares at $65 per share) -1,144,000 total stockholder's Equity 32,959,000
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