Question

Using the following accounts and balances, prepare the stockholders' equity section of the balance sheet. Fifty...

Using the following accounts and balances, prepare the stockholders' equity section of the balance sheet. Fifty thousand shares of common stock are authorized, and 2,000 shares have been reacquired.

Common Stock, $40 par $1,320,000
Paid-In Capital in Excess of Par 204,040
Paid-In Capital from Sale of Treasury Stock 6,040
Retained Earnings 125,000
Treasury Stock 4,540
Stockholders' Equity
Contributed capital:
Common stock, $40 par (50,000 shares authorized, 33,000 issued $
Additional paid-in capital
Total contributed capital $
Retained earnings
Total $
Treasury stock
Total stockholders' equity $

Homework Answers

Answer #1
Stockholders Equity Section
Particulars Amount Amount
Contributed Capital

      Common Stock Par value

(50000 shares authorized , 33000 shares issued)

$1320000
       Excess over par $204040
Paid in capital - common stock $1524040
Paid in Capital - Sale of Treasury stock $6040
     Total Paid in Capital $1530080
Retained Earnings $125000
     Total $1655080
Less: Treasury stock - cost $4540
Total Stockholders Equity $1650540
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