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The following accounts appear in the records of McAdam Inc. at December 31, 2018. Prepare the stockholders' equity section at December 31.   Common Stock (no-par, $1 stated value, 500,000 shares authorized, 250,000 shares issued) $ 250,000 Paid-in Capital in Excess of Stated Value—Common Stock 1,200,000 Preferred Stock ($50 par value, 8%, 50,000 shares authorized, 14,000 shares issued) 700,000 Retained Earnings 920,000 Treasury Stock (9,000 common shares) 64,000 Paid-in Capital in Excess of Par Value—Preferred Stock 24,000 Accumulated Other Comprehensive Loss 31,000

The following accounts appear in the records of McAdam Inc. at December 31, 2018. Prepare the stockholders' equity section at December 31.   Common Stock (no-par, $1 stated value, 500,000 shares authorized, 250,000 shares issued) $ 250,000 Paid-in Capital in Excess of Stated Value—Common Stock 1,200,000 Preferred Stock ($50 par value, 8%, 50,000 shares authorized, 14,000 shares issued) 700,000 Retained Earnings 920,000 Treasury Stock (9,000 common shares) 64,000 Paid-in Capital in Excess of Par Value—Preferred Stock 24,000 Accumulated Other Comprehensive Loss 31,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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7 The following accounts appear in the records of McAdam Inc. at December 31, 2018. Prepare the stockholders' equity section at December 31.

 

Common Stock (no-par, $1 stated value, 500,000 shares authorized, 250,000 shares issued)

$ 250,000

Paid-in Capital in Excess of Stated Value—Common Stock

1,200,000

Preferred Stock ($50 par value, 8%, 50,000 shares authorized, 14,000 shares issued)

700,000

Retained Earnings

920,000

Treasury Stock (9,000 common shares)

64,000

Paid-in Capital in Excess of Par Value—Preferred Stock

24,000

Accumulated Other Comprehensive Loss

31,000
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