The following accounts appear in the ledger of Akram Inc. after the books are closed at Deceuver 31, 2018. Common Stock, RS1 par value, 500,000 shares authorized, 400,000 shares issued RS 400,000 Common Stock Dividends Distributable Paid-in Capital in Excess of Par-Common Stock Preferred Stock, RS 100 par value, 6%, 10,000 shares authorized; 2,000 shares issued Retained Earnings Treasury Stock (10,000 common shares) Paid-in Capital in Excess of Par-Preferred Stock 60,000 650,000 200,000 920,000 85,000 310,000 Instructions Prepare the stockholders' equity section at December 31, 2014, assuming that retained eamings is restricted for plant expansion in the amount of RS 200,000.

The following accounts appear in the ledger of Akram Inc. after the books are closed at Deceuver 31, 2018. Common Stock, RS1 par value, 500,000 shares authorized, 400,000 shares issued RS 400,000 Common Stock Dividends Distributable Paid-in Capital in Excess of Par-Common Stock Preferred Stock, RS 100 par value, 6%, 10,000 shares authorized; 2,000 shares issued Retained Earnings Treasury Stock (10,000 common shares) Paid-in Capital in Excess of Par-Preferred Stock 60,000 650,000 200,000 920,000 85,000 310,000 Instructions Prepare the stockholders' equity section at December 31, 2014, assuming that retained eamings is restricted for plant expansion in the amount of RS 200,000.

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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