21. After closing its books on December 31, Hernandez Company Stockholders' Equity accounts had the following balances: Common stock, $5 par, 15,000 shares $75,000 Preferred Stock, $15 par, 4%, 8,000 shares 120,000 Paid -in capital in excess of par-common stock 3,500 Paid -in capital in excess of par-preferred stock 2,000 Retained earnings 35,000 Prepare the Stockholders' equity section of the balance sheet.

21. After closing its books on December 31, Hernandez Company Stockholders' Equity accounts had the following balances: Common stock, $5 par, 15,000 shares $75,000 Preferred Stock, $15 par, 4%, 8,000 shares 120,000 Paid -in capital in excess of par-common stock 3,500 Paid -in capital in excess of par-preferred stock 2,000 Retained earnings 35,000 Prepare the Stockholders' equity section of the balance sheet.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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