Reporting stockholders' equity Using the following accounts and balances, prepare the "Stockholders' Equity" section of the balance sheet. Regarding the common stock, 60,000 shares are authorized, and 2,000 shares have been reacquired. Common Stock, $70 par Paid-In Capital from Sale of Treasury Stock (2,000 shares at cost) Paid-In Capital in Excess of Par-Common Stock Retained Earnings Treasury Stock Line Item Description Stockholders' Equity Paid-in capital: Balance Sheet Paid-in capital, common stock Total paid-in capital Total Total stockholders' equity Amount Amount $3,360,000 101,000 912,000 1,848,000 55,000
Reporting stockholders' equity Using the following accounts and balances, prepare the "Stockholders' Equity" section of the balance sheet. Regarding the common stock, 60,000 shares are authorized, and 2,000 shares have been reacquired. Common Stock, $70 par Paid-In Capital from Sale of Treasury Stock (2,000 shares at cost) Paid-In Capital in Excess of Par-Common Stock Retained Earnings Treasury Stock Line Item Description Stockholders' Equity Paid-in capital: Balance Sheet Paid-in capital, common stock Total paid-in capital Total Total stockholders' equity Amount Amount $3,360,000 101,000 912,000 1,848,000 55,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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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. Regarding the common stock, 60,000 shares are authorized, and
2,000 shares have been reacquired.
Common Stock, $70 par
Paid-In Capital from Sale of Treasury Stock (2,000 shares at
cost)
Paid-In Capital in Excess of Par-Common Stock
Retained Earnings
Treasury Stock
Line Item Description
Stockholders' Equity
Paid-in capital:
Balance Sheet
Paid-in capital, common stock
Total paid-in capital
Total
Total stockholders' equity
Amount Amount
$3,360,000
101,000
912,000
1,848,000
55,000
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