Using the following accounts and balances, prepare the stockholders' equity section of the balance sheet. Fifty thousand shares of common stock are authorized, and 5,000 shares have been reacquired.Common Stock, $70 par$2,730,000Paid-In Capital in Excess of Par201,070Paid-In Capital from Sale of Treasury Stock6,070Retained Earnings156,000Treasury Stock4,570 blankStockholders' EquityblankContributed capital: $- Select - - Select - Total contributed capital $fill in the blank 5 - Select -Total $fill in the blank 8 - Select -Total stockholders' equity $fill in the blank 11

Stockholders' equity includes preferred stock common stock and paid-up capital in excess of par. It…

Answered: Using the following accounts and…

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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Using the following accounts and balances, prepare the stockholders' equity section of the balance sheet. Fifty thousand shares of common stock are authorized, and 5,000 shares have been reacquired.

Common Stock, $70 par	$2,730,000
Paid-In Capital in Excess of Par	201,070
Paid-In Capital from Sale of Treasury Stock	6,070
Retained Earnings	156,000
Treasury Stock	4,570

blankStockholders' Equityblank

Contributed capital:
	$- Select -
	- Select -
Total contributed capital		$fill in the blank 5
		- Select -
Total		$fill in the blank 8
		- Select -
Total stockholders' equity		$fill in the blank 11

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