1) Prepare the stockholders\' equity section of Mountainview\'s balance sheet 2)

Question

1) Prepare the stockholders' equity section of Mountainview's balance sheet

2) What was the average selling price of each common share?

cost of goods sold                     $60,500          Accountts Payable    $6,500 Paid-in Capital in excess of par $ 90,000        Retained Earnings       $18,000 Common Stock, $3 par value                         Unearned Revenue           5,300 60,000 shares issued              $180,000        Total Assets                         ? Cash                                         22,500       Long-Term Note Payable   7,700

Explanation / Answer

Mountaine view Balance sheet Stockholders'Equity Section Details Amt $ Common Stock $3 par value 60,000 shares issued                   180,000 Paid in Capital in excess of par                      90,000 Total Paid in Capital                   270,000 Reatined Earning                      18,000 Total Stock holders Equity                   288,000 Average selling price of common share Total Paid in Capital                   270,000 No of share issued                      60,000 Average selling price/common share $                      4.50

Related Questions

Navigate

• Browse (All)
• Browse 1
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.