Reporting Stockholders' Equity Using the following accounts and balances, prepare the Stockholders' Equity section of the balance sheet using Method 1 of Exhibit 8. Five hundred thousand shares of common stock are authorized, and 35,000 shares have been reacquired. Common Stock, $120 par $25,500,000 Paid-In Capital from Sale of Treasury Stock 4,074,000 Paid-In Capital in Excess of Par-Common Stock 7,230,000 Retained Earnings 47,101,000 Treasury Stock 3,920,000
Reporting Stockholders' Equity Using the following accounts and balances, prepare the Stockholders' Equity section of the balance sheet using Method 1 of Exhibit 8. Five hundred thousand shares of common stock are authorized, and 35,000 shares have been reacquired. Common Stock, $120 par $25,500,000 Paid-In Capital from Sale of Treasury Stock 4,074,000 Paid-In Capital in Excess of Par-Common Stock 7,230,000 Retained Earnings 47,101,000 Treasury Stock 3,920,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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
Transcribed Image Text:Reporting Stockholders' Equity
Using the following accounts and balances, prepare the Stockholders' Equity section of the balance sheet using Method 1 of Exhibit 8. Five hundred thousand shares of common stock are authorized,
and 35,000 shares have been reacquired.
Common Stock, $120 par
$25,500,000
Paid-In Capital from Sale of Treasury Stock
4,074,000
Paid-In Capital in Excess of Par-Common Stock
7,230,000
Retained Earnings
47,101,000
Treasury Stock
3,920,000
Stockholders' Equity
Paid-in capital:
Total Paid-In Capital
Total Stockholders' Equity
%24
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