As of December 31, 20--, the balances of the stockholders' equity accounts of Higbie Auto Inc. were as follows: Common stock, $6 par (30,000 shares authorized, 13,000 shares ________ issued) Paid-in capital in excess of par—common stock $17000 Common treasury stock (2,000 shares at $6 per share) _______ Preferred stock, 5%, $12 par (16,000 shares authorized, 5,000 shares ______issued) Paid-in capital in excess of par—preferred stock $6,000 Preferred stock subscribed (2,000 shares) __________ Retained earnings $48,000 Based on this information, prepare the stockholders' equity section of the Higbie Auto Inc. balance sheet as of December 31, 20--.
As of December 31, 20--, the balances of the
Common stock, $6 par (30,000 shares authorized, 13,000 shares ________
issued)
Paid-in capital in excess of par—common stock $17000
Common
issued)
Paid-in capital in excess of par—preferred stock $6,000
Preferred stock subscribed (2,000 shares) __________
Based on this information, prepare the stockholders' equity section of the Higbie Auto Inc.
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