The following accounts and balances are from the records of Student Corporation on December 31, 2018: Preferred Stock, $100 par value, 9 percent cumulative, 10,000 shares authorized, 3,000 shares issued and outstanding $300,000 Common Stock, $12 par value, 45,000 shares authorized, 15,000 shares issued, and 14,250 shares outstanding 180,000 Additional Paid-in Capital, Common Stock 37,000 Additional Paid-in Capital, Common Stock 60,000 Retained Earnings 11,500 Treasury Stock, Common (750 shares, at cost) 15,000 Prepare the stockholders' equity section of Student Corporation's balance sheet as of December 31, 2018.

The following accounts and balances are from the records of Student Corporation on December 31, 2018: Preferred Stock, $100 par value, 9 percent cumulative, 10,000 shares authorized, 3,000 shares issued and outstanding $300,000 Common Stock, $12 par value, 45,000 shares authorized, 15,000 shares issued, and 14,250 shares outstanding 180,000 Additional Paid-in Capital, Common Stock 37,000 Additional Paid-in Capital, Common Stock 60,000 Retained Earnings 11,500 Treasury Stock, Common (750 shares, at cost) 15,000 Prepare the stockholders' equity section of Student Corporation's balance sheet as of December 31, 2018.

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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Please do the journal entries. Thank you!
Please show your work.