Closet Organizers Inc. sells closet organizing systems. Selected accounts and their balances as of September 30, the end of the current year are: Common Stock, $42 par 12,810,000 Paid-in Capital from Sale of Treasury Stock-Common 330,000 Paid-in Capital in Excess of Par - Common Stock 453,000 Paid-in Capital in Excess of Par - Preferred Stock 156,000 Preferred 2% stock, $100 par 520,000 Retained Earnings 64,358,000 Treasury Stock-Common 1,006,250 Prepare the Stockholder's Equity section of the balance sheet as of September 30, the end of the current year using Method 1 of Exhibit 8. Preferred stock has sixty thousand shares authorized and common stock has four hundred thousand shares authorized. There are twenty-five thousand shares of common stock held as treasury stock.
Closet Organizers Inc. sells closet organizing systems. Selected accounts and their balances
as of September 30, the end of the current year are:
Common Stock, $42 par 12,810,000
Paid-in Capital from Sale of
Paid-in Capital in Excess of Par - Common Stock 453,000
Paid-in Capital in Excess of Par -
Preferred 2% stock, $100 par 520,000
Retained Earnings 64,358,000
Treasury Stock-Common 1,006,250
Prepare the
the current year using Method 1 of Exhibit 8. Preferred stock has sixty thousand shares authorized
and common stock has four hundred thousand shares authorized. There are twenty-five
thousand shares of common stock held as treasury stock.
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