Question

Stockholders' Equity Section of Balance Sheet

The following accounts and their balances appear in the ledger of Goodale Properties Inc. on June 30 of the current year:

Common Stock, $15 par	$796,500
Paid-In Capital from Sale of Treasury Stock	32,700
Paid-In Capital in Excess of Par—Common Stock	21,240
Retained Earnings	1,250,000
Treasury Stock	16,435

Prepare the Stockholders’ Equity section of the balance sheet as of June 30 using Method 1 of Exhibit 8. Eighty thousand shares of common stock are authorized, and 865 shares have been reacquired.

Goodale Properties Inc.
Stockholders' Equity
June 30, 20XX
Paid-In Capital:
Common Stock, $45 Par (80,000 Shares Authorized, 17,700 Shares Issued)	$
Excess over par
Paid-in capital, common stock		$
From Sale of Treasury Stock
Total Paid-In Capital		$
Retained Earnings
Total		$
Treasury Stock (865 Shares at Cost)
Total Stockholders' Equity

Answer 1

Goodale Properties Inc.
Stockholders' Equity
June 30, 20XX
Paid-In Capital:
Common Stock, $45 Par (80,000 Shares Authorized, 17,700 Shares Issued)	$796,500
Excess over par
Paid-in capital, common stock	$21,240
From Sale of Treasury Stock	$32,700
Total Paid-In Capital	$850,440
Retained Earnings	$1,250,000
Total	$2,100,440
Treasury Stock (865 Shares at Cost)	-$16,435
Total Stockholders' Equity	$2,084,005