Question

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		$

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