Goodale Properties Inc. Stockholders' Equity June 30 Paid-In Capital: Common Stock, $45 Par (80,000 Shares Authorized, 14,600 Shares Issued) Excess Over Par Paid-in capital, common stock From Sale of Treasury Stock Total Paid-In Capital Retained Earnings Treasury Stock (715 Shares at Cost) Total Stockholders' Equity LA
Goodale Properties Inc. Stockholders' Equity June 30 Paid-In Capital: Common Stock, $45 Par (80,000 Shares Authorized, 14,600 Shares Issued) Excess Over Par Paid-in capital, common stock From Sale of Treasury Stock Total Paid-In Capital Retained Earnings Treasury Stock (715 Shares at Cost) Total Stockholders' Equity LA
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![The following accounts and their balances appear in the ledger of Goodale Properties Inc. on June 30 of the current year:
Common Stock, $15 par
Paid-In Capital from Sale of Treasury Stock
Paid-In Capital in Excess of Par-Common Stock
Retained Earnings
Treasury Stock
Retained Earnings
Treasury Stock (715 Shares at Cost)
Total Stockholders' Equity
$657,000
27,000
17,520
Prepare the Stockholders' Equity section of the balance sheet as of June 30 using Method 1 of Exhibit 8. Eighty thousand shares of common stock are authorized, and 715 shares
have been reacquired.
✓
1,031,000
✓
13,585
Paid-In Capital:
Common Stock, $45 Par (80,000 Shares Authorized, 14,600 Shares Issued)
Excess Over Par
Paid-in capital, common stock
From Sale of Treasury Stock
Total Paid-In Capital
Goodale Properties Inc.
Stockholders' Equity
June 30
QOOQ](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc527c156-b915-4390-b215-96b96e640af4%2Fe267aad1-3e4b-4d36-9e04-e8df79706b59%2Fkrdqkyq_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The following accounts and their balances appear in the ledger of Goodale Properties Inc. on June 30 of the current year:
Common Stock, $15 par
Paid-In Capital from Sale of Treasury Stock
Paid-In Capital in Excess of Par-Common Stock
Retained Earnings
Treasury Stock
Retained Earnings
Treasury Stock (715 Shares at Cost)
Total Stockholders' Equity
$657,000
27,000
17,520
Prepare the Stockholders' Equity section of the balance sheet as of June 30 using Method 1 of Exhibit 8. Eighty thousand shares of common stock are authorized, and 715 shares
have been reacquired.
✓
1,031,000
✓
13,585
Paid-In Capital:
Common Stock, $45 Par (80,000 Shares Authorized, 14,600 Shares Issued)
Excess Over Par
Paid-in capital, common stock
From Sale of Treasury Stock
Total Paid-In Capital
Goodale Properties Inc.
Stockholders' Equity
June 30
QOOQ
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