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The following stockholders' equity accounts, arranged alphabetically, are in the ledger of Telex Inc. on December 31, 2017. Common Stock ($20 par value) $900,000 Paid-in Capital in Excess of Par Value-Common Stock Preferred Stock (10%, $50 par) Paid-in Capital in Excess of Par-Preferred Stock Paid in Capital from Treasury Stock Retained Earnings Treasury Stock (600 common shares) 100,000 190,000 10,000 2,000 350,000 27,000 Instructions Prepare the stockholders' equity section of the balance sheet on December 31, 2017.

The following stockholders' equity accounts, arranged alphabetically, are in the ledger of Telex Inc. on December 31, 2017. Common Stock ($20 par value) $900,000 Paid-in Capital in Excess of Par Value-Common Stock Preferred Stock (10%, $50 par) Paid-in Capital in Excess of Par-Preferred Stock Paid in Capital from Treasury Stock Retained Earnings Treasury Stock (600 common shares) 100,000 190,000 10,000 2,000 350,000 27,000 Instructions Prepare the stockholders' equity section of the balance sheet on December 31, 2017.

FINANCIAL ACCOUNTING
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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The following stockholders' equity accounts, arranged alphabetically, are in the ledger of Telex Inc. on December 31, 2017. Common Stock ($20 par value) $900,000 190,000 Paid-in Capital in Excess of Par Value-Common Stock Preferred Stock (10%, $50 par) Paid-in Capital in Excess of Par-Preferred Stock Paid in Capital from Treasury Stock Retained Earnings Treasury Stock (600 common shares) 100,000 10,000 2,000 350,000 27,000 Instructions Prepare the stockholders' equity section of the balance sheet on December 31, 2017.
Transcribed Image Text:The following stockholders' equity accounts, arranged alphabetically, are in the ledger of Telex Inc. on December 31, 2017. Common Stock ($20 par value) $900,000 190,000 Paid-in Capital in Excess of Par Value-Common Stock Preferred Stock (10%, $50 par) Paid-in Capital in Excess of Par-Preferred Stock Paid in Capital from Treasury Stock Retained Earnings Treasury Stock (600 common shares) 100,000 10,000 2,000 350,000 27,000 Instructions Prepare the stockholders' equity section of the balance sheet on December 31, 2017.
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