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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: 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.

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Financial Accounting

15th Edition
Carl Warren + 2 others
Publisher: Cengage Learning
ISBN: 9781337272124

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BuyFindarrow_forward

Financial Accounting

15th Edition
Carl Warren + 2 others
Publisher: Cengage Learning
ISBN: 9781337272124
Chapter 13, Problem 18E
Textbook Problem
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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:

Chapter 13, Problem 18E, Stockholders Equity section of balance sheet The following accounts and their balances appear in the

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.

To determine

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

Explanation of Solution

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.

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

Stockholders’ equity section
ParticularsAmount ($)Amount ($)Amount ($)
Paid-in Capital:   

      Common Stock, $45 par

      (80,000 shares authorized,

       68,000 shares issued)

$3,060,000

  

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