engageNOWv2 | Online teach X agenow.com/ilm/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSession Locator=&inprogress=false eBook Reporting Stockholders' Equity Using the following accounts and balances, prepare the "Stockholders' Equity" section of the balance sheet. 70,000 shares of common stock authorized, and 1,000 shares have been reacquired. Common Stock, $40 par Paid-In Capital from Sale of Treasury Stock Paid-In Capital in Excess of Par-Common Stock Retained Earnings Treasury Stock Show Me How Stockholders' Equity Total paid-in capital Retained Earnings Feedback Paid-in capital: Common Stock, $40 Par (70,000 Shares Authorized, 42,000 Shares Issued) Excess of Issue Price Over Par - V Paid-in capital, common stock From Sale of Treasury Stock Total Treasury Stock Total stockholders' equity ✓ ✓ $1,680,000 ✓ Balance Sheet 84,000 546,000 790,000 50,000 gogooogl Check My Work Recall that paid-in capital reflects the total amount that has been paid into the business by the stockholders for ownership in the corporation.

engageNOWv2 | Online teach X agenow.com/ilm/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSession Locator=&inprogress=false eBook Reporting Stockholders' Equity Using the following accounts and balances, prepare the "Stockholders' Equity" section of the balance sheet. 70,000 shares of common stock authorized, and 1,000 shares have been reacquired. Common Stock, $40 par Paid-In Capital from Sale of Treasury Stock Paid-In Capital in Excess of Par-Common Stock Retained Earnings Treasury Stock Show Me How Stockholders' Equity Total paid-in capital Retained Earnings Feedback Paid-in capital: Common Stock, $40 Par (70,000 Shares Authorized, 42,000 Shares Issued) Excess of Issue Price Over Par - V Paid-in capital, common stock From Sale of Treasury Stock Total Treasury Stock Total stockholders' equity ✓ ✓ $1,680,000 ✓ Balance Sheet 84,000 546,000 790,000 50,000 gogooogl Check My Work Recall that paid-in capital reflects the total amount that has been paid into the business by the stockholders for ownership in the corporation.

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter18: Acquiring Capital For Growth And Development

Section18.3: Capital Stock

Problem 1WT

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Prepare the stockholders equity section of the balance sheet based on the following account balances: Common stock, 2 par, 60,000 shares 120,000 Preferred stock, 10 par, 5%, 4,000 shares 40,000 Common stock subscribed, 2 par, 3,000 shares 6,000 Retained earnings 17,000 The answers to the Self-Study Test Questions are at the end of the chapter (pages 811812).
Using the following accounts and balances, prepare the Stockholders’ Equity section of the balance sheet using Method 1 ofExhibit 8. Refer to the lists of Accounts and Amount Descriptions provided for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtracted or negative numbers use a minus sign. One hundred thousand shares of common stock are authorized, and 5,000 shares have been reacquired. Common Stock, $2 par$ 150,000Paid-In Capital from Sale of Treasury Stock60,000Paid-In Capital in Excess of Par—Common Stock2,250,000Retained Earnings10,880,000Treasury Stock140,000.
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The stockholders’ equity section of The Seventies Shop is presented here.THE SEVENTIES SHOP Balance Sheet (partial)($ in thousands)Stockholders’ equity:Preferred stock, $50 par value $ –0–Common stock, $5 par value 20,000Additional paid-in capital 100,000Total paid-in capital 120,000Retained earnings 53,000Treasury stock (3,700)Total stockholders’ equity $ 169,300Required:Based on the stockholders’ equity section of The Seventies Shop, answer the following questions. Remember that all amounts are presented in thousands.1. How many shares of preferred stock have been issued?2. How many shares of common stock have been issued?3. Total paid-in capital is $120 million. At what average price per share were the common shares issued?4. If retained earnings at the beginning of the period was $45 million and net income during the year was $9,907,500, how…
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