# Stockholders' Equity section of balance sheet The following accounts and their balances appear in the ledger of Goodale Properties Inc. on June 30 of the current year: Common Stock, \$45 par \$ 3,060,000 Paid In Capital from Sale of Treasury Stock 115,000 Paid In Capital in Excess of Par—Common Stock 272,000 Retained Earnings 20,553,000 Treasury Stock 324,000 Prepare the Stockholders' Equity section of the balance sheet as of June 30 using Method 1 of Exhibit 8. Eighty thousand shares of common stock are authorized, and 9,000 shares have been reacquired.

### Accounting

27th Edition
WARREN + 5 others
Publisher: Cengage Learning,
ISBN: 9781337272094

### Accounting

27th Edition
WARREN + 5 others
Publisher: Cengage Learning,
ISBN: 9781337272094

#### Solutions

Chapter
Section
Chapter 13, Problem 13.18EX
Textbook Problem

## Stockholders' Equity section of balance sheetThe following accounts and their balances appear in the ledger of Goodale Properties Inc. on June 30 of the current year: Common Stock, \$45 par \$ 3,060,000 Paid In Capital from Sale of Treasury Stock 115,000 Paid In Capital in Excess of Par—Common Stock 272,000 Retained Earnings 20,553,000 Treasury Stock 324,000 Prepare the Stockholders' Equity section of the balance sheet as of June 30 using Method 1 of Exhibit 8. Eighty thousand shares of common stock are authorized, and 9,000 shares have been reacquired.

Expert Solution
To determine

Stockholders’ Equity Section: It is refers to the section of the balance sheet that shows the available balance of stockholders’ equity as on reported date at the end of the financial year.

To prepare: The paid-in capital portion of the stockholders’ equity section of the balance sheet for G Properties Incorporation.

### Explanation of Solution

Prepare the paid-in capital portion of the stockholders’ equity section of the balance sheet for G Properties Incorporation.

 Stockholders’ equity section Particulars Amount (\$) Amount (\$) Amount (\$) Paid-in Capital: Common Stock, \$45 par       (80,000 shares authorized,        68,000 shares issued) \$3,060,000 Excess over par \$272,000 Paid in capital, common stock \$3,332,000 From sale of treasury stock \$115,000 Total paid-in capital \$3,447,000 Retained earnings \$20,553,000 Total \$24,000,000 Less: Treasury stock (9,000 shares at cost) (\$324,000) Total stockholders’ equity \$23,676,000

Table (1)

Description:

The proforma of the reporting the stockholders’ equity section of the partial balance sheet is shown below for be...

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