The following accounts and their balances appear in the ledger of Goodale Properties Inc. on June 30 of the current year: 1 Common stock, $47 par $3,073,800.00 2 Paid-In Capital from Sale of Treasury Stock 119,000.00 3 Paid-In Capital in Excess of Par-Common Stock 261,600.00 4 Retained Earnings 19,185,100.00 5 Treasury Stock 326,800.00 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 8,600 shares have been reacquired. Refer to the lists of Accounts and Amount Descriptions provided for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtractive or negative numbers use a minus sign.
The following accounts and their balances appear in the ledger of Goodale Properties Inc. on June 30 of the current year: 1 Common stock, $47 par $3,073,800.00 2 Paid-In Capital from Sale of Treasury Stock 119,000.00 3 Paid-In Capital in Excess of Par-Common Stock 261,600.00 4 Retained Earnings 19,185,100.00 5 Treasury Stock 326,800.00 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 8,600 shares have been reacquired. Refer to the lists of Accounts and Amount Descriptions provided for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtractive or negative numbers use a minus sign.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
The following accounts and their balances appear in the ledger of Goodale Properties Inc. on June 30 of the current year:
|
1
|
Common stock, $47 par
|
$3,073,800.00
|
|
2
|
Paid-In Capital from Sale of
|
119,000.00
|
|
3
|
Paid-In Capital in Excess of Par-Common Stock
|
261,600.00
|
|
4
|
|
19,185,100.00
|
|
5
|
Treasury Stock
|
326,800.00
|
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 8,600 shares have been reacquired. Refer to the lists of Accounts and Amount Descriptions provided for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtractive or negative numbers use a minus sign.
|
Accounts and Amount Descriptions
|
|
| Common stock dividends | |
| Common stock, $47 par; 80,000 shares authorized, 65,400 issued | |
| Excess over par | |
| From sale of treasury stock | |
| Increase in retained earnings | |
| Paid-in capital, common stock | |
| Retained earnings | |
| Total | |
| Total paid-in capital | |
| Total stockholders’ equity | |
| Treasury stock; 8,600 shares at cost |
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