Question

Reporting Stockholders' Equity

Using the following accounts and balances, prepare the “Stockholders’ Equity” section of the balance sheet. 100,000 shares of common stock authorized, and 10,000 shares have been reacquired.

Common Stock, $80 par$5,600,000

Paid-In Capital from Sale of Treasury Stock112,000

Paid-In Capital in Excess of Par—Common Stock1,470,000

Retained Earnings3,192,000

Treasury Stock69,000

Balance Sheet

Stockholders' Equity

Paid-in capital:  

$

Paid-in capital, common stock$

Total paid-in capital$

Total$

Total stockholders' equity

Answer 1

Balance Sheet
Stockholders' Equity
	Amount ($)
Paid-in-capital
Common Stock, $80 par	5,600,000
Add: Paid-In Capital in Excess of Par—Common Stock	1,470,000
Sub-total	7,070,000
Add: Paid-In Capital from Sale of Treasury Stock	112,000
Total Paid-in-capital	7,182,000
Add: Retained Earnings	3,192,000
Total	10,374,000
Less: Treasury Stock	69,000
Total stockholders' equity	10,305,000