Concept explainers
Disclosing stockholders’ equity on a
Patterson Manufacturing Co. has the following selected account balances at September 30, 2018:
Common Stock, no par with $9 stated value, 90,000 shares authorized, issued, and outstanding......... $810,000 Machinery and Equipment... 51,000 |
Inventory................................. $146,000 Machinery and Equipment......... 85,000 Paid-in Capital in Excess of Stated Value—Common......... 95,000 Cost of Goods Sold................. 81,000 |
Requirement
- 1. Prepare the stockholders' equity section of the company's balance sheet.
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