Using the following accounts and balances, prepare the "Stockholders' Equity" section of the balance sheet. Five hundred thousand shares of common stock are authorized, and 40,000 shares have been reacquired. Common Stock, $120 par $48,000,000 Paid-In Capital from Sale of Treasury Stock 4,500,000 Paid-In Capital in Excess of Par-Common Stock 6,400,000 Retained Earnings 63,680,000 Treasury Stock 5,200,000

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Using the following accounts and balances, prepare the "Stockholders' Equity" section of the balance sheet. Five hundred
thousand shares of common stock are authorized, and 40,000 shares have been reacquired.
Common Stock, $120 par
Paid-In Capital from Sale of Treasury Stock
Paid-In Capital in Excess of Par-Common Stock 6,400,000
$48,000,000
4,500,000
Retained Earnings
63,680,000
Treasury Stock
5,200,000
Transcribed Image Text:Using the following accounts and balances, prepare the "Stockholders' Equity" section of the balance sheet. Five hundred thousand shares of common stock are authorized, and 40,000 shares have been reacquired. Common Stock, $120 par Paid-In Capital from Sale of Treasury Stock Paid-In Capital in Excess of Par-Common Stock 6,400,000 $48,000,000 4,500,000 Retained Earnings 63,680,000 Treasury Stock 5,200,000
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