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Answer by fallowing the table format United Apparel has the following balances in its stockholders' equity accounts on December 31, 2024: Treasury Stock, $810,000; Common Stock, $560,000; Preferred Stock, $3,200,000; Retained Earnings, $2,000,000; and Additional Paid-in Capital, $8,400,000.

Answer by fallowing the table format United Apparel has the following balances in its stockholders' equity accounts on December 31, 2024: Treasury Stock, $810,000; Common Stock, $560,000; Preferred Stock, $3,200,000; Retained Earnings, $2,000,000; and Additional Paid-in Capital, $8,400,000.

FINANCIAL ACCOUNTING
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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Answer by fallowing the table format

United Apparel has the following balances in its stockholders' equity accounts on December 31, 2024: Treasury Stock, $810,000; Common Stock, $560,000; Preferred Stock, $3,200,000; Retained Earnings, $2,000,000; and Additional Paid-in Capital, $8,400,000.

Required:
Prepare the stockholders' equity section of the balance sheet for United Apparel as of December 31, 2024. (Amounts to be deducted should be indicated by a minus sign.)

UNITED APPAREL Balance Sheet (Stockholders' Equity Section) December 31, 2024 Stockholders' Equity: Preferred Stock 3,200,000 Common Stock 560,000 Treasury Stock 810,000 Total Paid-in Capital 4,570,000 Retained Earnings 2,000,000 Additional Paid-in Capital 8,400,000 Additional Paid-in Capital Total Stockholders' Equity $ 14,970,000 %24
Transcribed Image Text:UNITED APPAREL Balance Sheet (Stockholders' Equity Section) December 31, 2024 Stockholders' Equity: Preferred Stock 3,200,000 Common Stock 560,000 Treasury Stock 810,000 Total Paid-in Capital 4,570,000 Retained Earnings 2,000,000 Additional Paid-in Capital 8,400,000 Additional Paid-in Capital Total Stockholders' Equity $ 14,970,000 %24
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